Thailand's economy will grow 5.3 percent in 2013, faster than the previous projection of 5 percent, Somchai Sajjapong, Fiscal Policy Office chief reportedly said Friday.
Sajjapong said the latest upgrade is based on the expectations that domestic spending will improve further. The central bank forecast just 4.9 percent growth for 2013.
In the fourth quarter of 2012, gross domestic product expanded at a stronger pace of 18.9 percent as manufacturers resumed their normal production capacity following a severe flood in 2011.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.