After the floods: Thailand grows 3.3% in Q2

Rappler.com

This is AI generated summarization, which may have errors. For context, always refer to the full article.


Thailand, Southeast Asia’s second biggest economy, logged a 3.3% growth in the April-June period, the second straight quarter of solid growth, buoyed by investment to repair factories damaged by last year’s devastating floods and strong domestic demand. The Thai economy, the region’s second biggest, has rebounded sharply after suffering a double-digit contraction in the wake of the kingdom’s worst floods in decades. Household consumption rose strongly as the government’s economic stimulus measures lifted spending on durable goods such as cars. The months-long floods last year killed hundreds of people and caused widespread damage to Thailand’s industrial heartland north of Bangkok. The floods ravaged huge industrial zones last October, affecting car and electronics groups. The government forecasts economic growth of 5.5% to 6% for the whole of 2012. The Philippines, on the other hand, expect to grow at the same pace for the year. It’s 2nd quarter gross domestic product (GDP) performance will be announced on August 30.


Read more on Rappler here.

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI

How does this make you feel?

Loading
Download the Rappler App!