Thailand’s gross domestic product (GDP) will grow 4.6 per cent this year, higher than the 4.2 per cent forecast by many other financial institutions, according to projections by London-based global banking giant HSBC.

HSBC economist Frederic Neumann said the higher-than-expected expansion stemmed from a continued increase in exports and local consumption. It is believed that consumption would play a more active role in recovering the economy because interest and inflation rates remain low and private investment begins to pick up.

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Also, the atmosphere for tourism improved as reflected by foreign investor visiting Thailand on a continuing basis, and the number might rise to a new record high.

via MCOT.NET > English_News > Business News > Thai GDP likely to grow higher than expected: HSBC.

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