The Thai central bank may raise its economic growth forecast for this year from 6 percent after the economy showed a better-than-expected performance in the first quarter, Bank of Thailand Assistant Governor Paiboon Kittisrikangwan reportedly said Wednesday.
Thailand's economy rebounded with a surprise 0.3 percent annual growth in the first quarter, following a flood-induced 8.9 percent slump in the previous three months, data from the National Economic and Social Development Board revealed yesterday. The economy grew 11 percent quarterly.
The latest expansion in economic activity was driven by a recovery in manufacturing, consumption, investment, and tourism following flood-related declines in the previous period. The planning agency maintained the growth projection for 2012 at 5.5 - 6.5 percent.
Earlier this month, the central bank lifted the 2012 growth outlook for the economy to 6 percent and forecast a 5.8 percent growth in 2013.
Elsewhere today, the World Bank forecast 4.5 percent growth for Thailand this year and expect it to pick up to 5 percent in 2013. The International Monetary Fund sees economic growth at 5.5 percent and 7.5 percent in 2012 and 2013, respectively.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
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.