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Thai Q2 GDP growth fastest in four years on strong exports

Reuters | Published: August 21, 2017 08:16:21 | Updated: October 24, 2017 13:35:44


Thailand's economy capped a solid performance for Southeast Asia in the second quarter, growing at its fastest clip in over four years on strong exports.

Robust tourism and farm output also helped the growth, prompting the government to raise its economic forecasts in a sign the recovery is gaining momentum, reports Reuters.

The second largest economic country of Southeast Asia joins a host of other countries in the region, which have seen growth speed up as an upturn in global demand hovered up the region's electronics, home appliances and other consumer goods.

The main risks for the region, including Thailand, stems from rising US trade protectionism, an expected slowdown in China's economy and higher US interest rates.

Thailand's gross domestic product (GDP) grew a seasonally adjusted 1.3 per cent in the June quarter from the first, the National Economic and Social Development Board (NESDB) said on Monday, faster than the 1.0 per cent forecast in a Reuters poll and matched the March quarter's pace.

On a yearly basis, growth was 3.7 per cent, the quickest rate in more than four years, and easily beating the median forecast of 3.2 per cent and the 3.3 per cent pace clocked in January-March.

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