Thailand Economy Grows at Fastest Pace in Over Four Years

Thailand’s economy grew at the fastest pace in more than four years, led by a surge in farming output and tourism.

Key Points

Gross domestic product rose 3.7 percent in the second quarter from a year ago after expanding 3.3 percent in the first quarter, the National Economic and Social Development Board said on Monday
The median estimate of 21 economists surveyed by Bloomberg was for growth of 3.2 percent
GDP rose a seasonally adjusted 1.3 percent in the second quarter compared with the previous three months, higher than the 1 percent median estimate in a Bloomberg survey

Big Picture

Thailand’s growth outlook has strengthened this year on the back of a recovery in global trade, but domestic demand continues to disappoint. More than three years after a military coup, political uncertainty has curbed the private sector’s appetite to invest, while consumer spending remains moderate.