Thailand's Economy Shows Modest Growth

Thailand's economy showed a modest growth in the third quarter, building the government's confidence in forecasting a rebound in growth in 2010, says The Wall Street Journal.

 

According to the newspaper, in the July to September period, gross domestic product grew 1.3% in seasonally adjusted terms from the previous quarter compared with a revised expansion of 2.2% in the second quarter.

 

The National Economic & Social Development Board also said unadjusted GDP declined 2.8% in the third quarter, improving sharply from the 4.9% slump in the second quarter, reports the Journal.

 

Quoting Ampon Kittiampon, secretary general of the board, the Journal says the Thai economy is expected to continue strengthening throughout the current quarter to expand 2.7% to 3.2% year-to-year, with exports also forecast to show growth thanks to improving conditions.
 

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