Thai eco­nomic growth tops fore­casts

The Pak Banker - - BUSINESS -

Thai­land's econ­omy grew slightly more than ex­pected in the sec­ond quar­ter but re­mained slug­gish, putting more pres­sure on the mil­i­tary gov­ern­ment to boost sput­ter­ing ac­tiv­ity as it en­ters its sec­ond year in power.

South­east Asia's sec­ond­largest econ­omy grew 0.4 per cent in April-June on a sea­son­ally-ad­justed ba­sis, barely edg­ing up from 0.3 per cent in the pre­vi­ous quar­ter though bet­ter than the 0.2 per cent pace ex­pected by econ­o­mists in a Reuters poll.

On an an­nual ba­sis, growth was 2.8 per cent, the same as the poll but down from 3 per cent in the first quar­ter, the Na­tional Eco­nomic and So­cial De­vel­op­ment Board (NESDB) said on Mon­day. "The story is the same: the econ­omy is still quite lack­lus­tre," said Krystal Tan at Cap­i­tal Eco­nom­ics in Sin­ga­pore. "We're not very op­ti­mistic in the com­ing quar­ters. There are still head­winds the econ­omy is fac­ing so that'll pre­vent growth from be­com­ing much stronger," she said. Although the mil­i­tary's May 2014 coup ended po­lit­i­cal un­rest, it has been un­able to get the econ­omy back on track.

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