Thai economy seen avoiding recession in Q2 after military coup

14 Aug, 2014

BANGKOK: Thailand's economy probably avoided slipping into a technical recession in April-June, growing 0.9 percent from the previous three months and 0.3 percent from a year earlier, a Reuters poll showed.

The army seized power on May 22 in a bid to restore stability and confidence. The military government has taken steps to try to kick-start Southeast Asia's second-largest economy, which was hurt by months of political turmoil.

In January-March, the economy contracted 2.1 percent, seasonally adjusted, on the quarter and 0.6 percent on the year.

In the poll, one out of 11 respondents who gave an on-quarter projection expected a second consecutive shrinkage in April-June.

For full-year 2014, the Reuters poll predicted growth of 1.6 percent, which would be the weakest since 2011, when the economy grew only 0.1 percent due to devastating flooding. In 2013, there was 2.9 percent expansion.

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