BANGKOK -- replica rolex watch Thailand's economy grew at a modest pace in the second quarter, beating expectations for a decline, as exports helped counter the impact of deadly protests that rocked the country in April and May.Thailand's second-quarter GDP expanded a seasonally adjusted 0.2% from the January-March period.
Robust expansion in the omega watches January-June period also prompted the National Economic and Social Development Board, the government's economic planning agency, to raise its full-year gross domestic product growth forecast. It also bolsters expectations the central bank will lift its benchmark policy rate 25 basis points Wednesday to 1.75%.
Compared with a year earlier, GDP rose 9.1%, while the economy grew 10.6% in the first half, said Mr. Ampon Kittiampon, secretary general of the National Economic and Social fake watches Development Board. Mr. Ampon said that without the political protests the Thai economy would have grown 12% from a year earlier.
The violent protests omega watch in April and May shut down parts of central Bangkok and led to the deaths of 91 people. "It was a stress test for the Thai economy. But this strength won't last if private investment and consumption are not boosted," the country recorded 7.5 million arrivals in the first half compared with 6.6 million a year earlier.
Mr. Ampon said second-quarter growth was driven largely by exports, while private investment rose 18.5% from a year earlier and consumption grew 6.5%. Exports surged 46.3% from a year earlier in June, fake rolex while domestic consumptionthough growth slowed to 20.6% in July to $15.56 billion and private investment have also recovered.
Prime Minister Abhisit Vejjajiva told Dow Jones Newswires earlier this month that full-year economic growth could top 8%, while the International Monetary Fund recently said it expects Thai gross Ansel domestic product to rise between 7% and 8% this year, following similar upgrades from the Asian Development Bank and the Bank of Thailand.
The government now expects 2010 GDP to grow 7.0% to 7.5%, up from its previous projection of 3.5% to 4.5%. Exports should rise 25.7% this year, compared with a previous expectation of 15.5% growth, while cattleya imports are likely to grow 32.9%. It earlier projected imports to grow 24.0%. But economists said they expect exports to expand.
"Interest rates continue to be on an uptrend, but the central bank will need to move cautiously as it will also take into account risks of a slowdown in major economies. We see the policy rate being lifted Tried to cherish by 25 basis points in each of the remaining three policy meetings this year and the rate is expected to continue rising to peak at 3% around the middle of next year," said Nuchjarin.
Thailand is expected to post a trade surplus of $14.9 billion in 2010, and a current account surplus of $15.1 billion, he said. Earlier, the agency projected a trade surplus of $11.3 billion and a current account For the man surplus of $12.2 billion,to peak at 3% around the middle of next year," said Nuchjarin.ZMC