Kasikorn Research: Thailand?s GDP to grow 1.1% in third quarter

BANGKOK, Oct 31 (TNA) — With Thailand’s economy continues sustaining growth due to several positive factors, Kasikorn Research Centre forecasts that the country’s gross domestic product (GDP) would grow by over 1.1 per cent  in the third quarter of 2009.

It said as all economic indicators for September announced by the Bank of Thailand (BoT) Friday showed signs of improvement, stemming from increased private consumption, particularly purchases of vehicles and electronic appliances as a result of higher incomes  from the improving economy and employment, there are signs that it would be possible that Thailand’s GDP for the third quarter this year to grow more than 1.1 per cent after expanding 2.3 per cent in the second quarter.

Although Thailand’s exports are expected to grow at least 7.5 per cent for calendar 2009,  several negative factors still prevailed and could hamper growth, according to Kasikorn.

These factors are political stability, unclear government regulations regarding private investment, movement of Thailand’s baht currency, and global commodity prices, it added. (TNA)