Thailand's GDP grows under expectation
Gross domestic product rose by 0.6 percent, a
little higher than in the second quarter but it was lower than a level
of one percent increase expected by economists, the National Economic
and Social Development Board (NESDB) said, adding that the government
lowered its growth estimate for 2014 to 1 percent from 1.5-2 percent
projected in August.
NESDB Secretary-General Arkhom
Termpittayapaisith was quoted by MCOT as saying that the national
economy improved from what it had been in the second quarter as the
private sector resumed its investment.
Investment in this sector
rose by 3.9 percent after being in steady decline in the four previous
quarters. Household spending increased by 2.2 percent compared to 0.2
percent in the third quarter. In the addition, the 40 billion THB
subsidy for rice growers and a subsidy for rubber growers might
stimulate the economy late this year.
It is expected that
economic growth rate may reach at 3.5-4.5 percent next year relying on
exports, tourism being likely to improve. However, the economic
projection of this year will grow by 1 percent instead of the optimistic
anticipation earlier.-VNA