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Thai Q1 GDP grows 1.3% q-o-q, slightly above forecast

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Thailand's economy expanded at its fastest pace in four years in January-March from the previous three months, underpinned by stronger exports, household spending and tourism.

[BANGKOK] Thailand's economy expanded at its fastest pace in four years in January-March from the previous three months, underpinned by stronger exports, household spending and tourism.

The economy grew 1.3 per cent in the March quarter from the prior period, on a seasonally adjusted basis, while economists in a Reuters poll had expected 1.2 per cent.

The government revised October-December quarterly growth to 0.5 per cent from 0.4 per cent.

From a year earlier, the economy expanded 3.3 per cent in the March quarter, the National Economic and Social Development Board said on Monday, compared with 3.2 per cent in the poll.

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In the final quarter of 2016, annual growth was 3 per cent.

Growth in South-east Asia's second-largest economy has lagged other regional peers for years. The military government has ramped up spending in a bid to boost domestic activity but large infrastructure projects have been slow taking off.

REUTERS

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