Thai economic growth tops forecasts
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.