After the floods, Thailand economy grow strong in Q1

After the 2011 devastating floods that caused Thailand’s economy to hit the breaks, its economy may already be up for a rebound based on strong performance in the first 3 months for the year. Its factories and manufacturing facilities that were damaged and had suspended production as a result of the floods, recovered quickly. The boost in production, as well as accelerated investment spending due to the reconstruction efforts, fueled a dramatic 11% growth in the country’s gross domestic product (GDP) in the quarter after sinking 8.9% in the previous quarter. Thailand now expects its economy to grow between 5.5% and 6.5% this 2012 — faster than the Philippines’ projection of around 5%. 

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