BANGKOK (XINHUA) – Thailand’s economy expanded 2.3 per cent in the second quarter of this year from a year earlier, driven by the tourism sector, private consumption and exports, official data showed yesterday.
The gross domestic product (GDP) in the April-June period accelerated from an upwardly revised 1.6 per cent growth in the previous quarter as government spending slightly rebounded, despite contractions in public and private investments, according to data from the Office of the National Economic and Social Development Council (NESDC).
On a quarterly basis, the GDP grew a seasonally adjusted 0.8 per cent in the second quarter of this year, easing from an upwardly revised 1.2 per cent increase in the January-March quarter, the NESDC said in a statement.
The NESDC expects the Southeast Asian nation’s economy to grow 2.3-2.8 per cent this year, narrowing from an earlier projection of 2.0-3.0 per cent, supported by an ongoing recovery in the tourism sector, favourable growth in private consumption and an upsurge in government budget disbursements.
