Thai Economy Grows at Fastest Pace in a Year

Thailand's economy grew a seasonally adjusted 1.5 percent in the third quarter, above
market forecasts and its fastest pace in a year, the state planning agency said on Monday.

The National Economic and Social Development Board also forecast GDP growth of 5.0 percent for the full year, up from a range of 4.2-4.7 percent in its September forecast.

Five economists surveyed by Reuters had estimated gross domestic product rose 1.1 percent in the third quarter, helped by healthy exports growth, compared with a revised 1.1 percent in the second quarter.

The quarterly expansion was the biggest since the third quarter of 2005, when the economy grew 1.9 percent.

Economists had forecast full-year growth would pick up to 4.7 percent from 4.5 percent in 2005.

Third-quarter GDP was 4.7 percent higher than a year earlier, weakening from a revised 5.0 percent annual rise in the second quarter and compared with market expectations of a 4.1 percent rise, the data showed.