http://www.bloomberg.com/news/2014-08-18/thailand-economy-averts-recession-as-outlook-improves-after-coup.html
Thailand’s economy expanded more than estimated in the second quarter as local demand recovered after a military coup ended months of political unrest. The baht advanced.
Gross domestic product rose 0.9 percent in the three months through June from the previous quarter, when it shrank a revised 1.9 percent, the National Economic & Social Development Board said in Bangkok today. The median of 16 estimates in a Bloomberg News survey was for 0.7 percent growth. The economy expanded 0.4 percent from a year earlier, compared to a survey estimate for no change.
Junta leader Prayuth Chan-Ocha, who seized power on May 22, has paid money due to rice farmers, capped fuel prices and outlined plans for a new government to revive confidence. There will be a “steady economic recovery” in the second half of the year, the state planning agency said today, while cutting the upper range of its growth forecast for 2014 to 2 percent.
“Second-quarter GDP confirms the stabilization in economic activity,” said Weiwen Ng, a Singapore-based economist at Australia & New Zealand Banking Group Ltd. As the political outlook turns constructive, “we expect the unlocking of fiscal spending to manifest itself in a V-shaped recovery for Thailand in the second half,” he said.
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