Thai economy posts 9.1 percent growth in Q2

The strong performance was seen as raising the odds of Thailand's central bank increasing interest rates again when it meets later this week, following its first hike in almost two years in July.

Gross domestic product (GDP) expanded for a third straight quarter compared with a year earlier, but at a slower pace than the breakneck growth of 12.0 percent seen in January-March, a government agency said.

On a seasonally adjusted basis, GDP expanded 0.2 percent in April-June from the previous quarter, after a 3.3 percent rise in January-March, according to the National Economic and Social Development Board.

The Thai economy has remained relatively resilient following two months of mass opposition protests, which paralyzed parts of Bangkok and sparked violence that left 91 people dead, ending in a bloody army crackdown in May.

The better-than-expected second-quarter result was largely thanks to robust overseas demand for Thai-made goods, such as cars.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos
 Respond to this email