Thai economy stagnant in Q1 as exports fall

Bangkok

THAILAND'S economy barely grew last quarter as rising government spending failed to counter falling exports and weakening local demand. The outlook for the rest of the year isn't that much better.

Gross domestic product rose 0.3 per cent in the three months through March from the previous quarter, the National Economic and Social Development Board said in Bangkok on Monday. The median of 17 estimates in a Bloomberg survey was for a 0.6 per cent contraction. GDP grew 3 per cent from a year earlier, compared with a prediction of a 3.4 per cent gain.