Thailand's growth quickens, aided by tourism and exports

But leadership change, uncertainty over 18.4b stimulus plan obscure outlook

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Thailand's economy expanded at the fastest pace in five quarters, aided by tourism and exports, although a leadership change and uncertainty over a US$14 billion (S$18.4 billion) stimulus plan cloud the outlook.

Gross domestic product (GDP) in the three months to June rose 2.3 per cent from a year earlier, said the National Economic and Social Development Council (NESDC) on Aug 19. That compares with the 2.2 per cent median estimate in a Bloomberg News survey and a 1.5 per cent pace reported earlier for the first quarter.

The economy expanded 0.8 per cent quarter on quarter, compared with a median estimate for a 1 per cent growth and a revised 1.2 per cent rise in the January to March period.