Thailand avoids recession with 0.9 per cent Q2 growth
August 18, 2014 14:00
Thailand dodged recession as its economy grew 0.9 per cent in the second quarter, data showed Monday, after the military ended months of political deadlock with a coup and promised to unshackle state spending.
Between April and June the economy grew 0.9 per cent after shrinking a revised 1.9 per cent in the first quarter, the National Economic and Social Development Board reported.
On a year-on-year basis, the economy grew 0.4 per cent after contracting by 0.6 per cent in the earlier quarter, NESDB said.
Despite the positive momentum, the board trimmed its growth outlook for 2014, forecasting 1.5-2.0 per cent expansion, down from a previous estimate of 1.5-2.5 per cent.