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Bangkok Resilient To World Depression

Posted: Nov. 21st, 2012  |  By Michael Pearse
Financial Times

Thailand is performing economically better than anyone was suspecting. When the numbers came in for the third quarter many were happily surprised at how well Bangkok was doing despite economy problems around the world. Credit for this may be offered to the cities high population and domestic demand.

BANGKOK—Thailand's economy performed better than expected in the third quarter, as gains in private consumption and investment offset weakness in exports, but the government's economic planning agency still expects full-year growth to come in at the lower end of its previously forecast range.

Growth data released Monday suggest Southeast Asia's second-largest economy remains resilient to the economic wobbles in China, the U.S. and the euro zone. Thai growth was supported by robust domestic demand in the wake of the devastating floods late last year as well as the government's populist spending policy.


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