Thailand GDP data
BANGKOK: Thailand’s economy grew by a more than expected 3.2 per cent in the first quarter off the back of strong tourism and public spending, official figures showed on Monday, but analysts warned the solid start was still shaky. Once one of Southeast Asia’s most vibrant and successful economies, Thailand has struggled with lacklustre growth fuelled by more than a decade of political instability and slowing demand for its exports. Thailand’s generals, who seized power in a May 2014 coup, have struggled to fulfil their pledge to kickstart the economy. But figures released by the National Economic and Social Development Board (NESB) on Monday showed the junta’s spending drive, a stimulus package worth some $11 billion since last year, was starting to pay dividends. The quarter one growth rate of 3.2 per cent was the highest in more than two years and higher than 2.8 per cent median estimate from a survey of 21 analysts.