BANGKOK, 6 October 2011 – The University of the Thai Chamber of Commerce (UTCC) has projected a gross domestic product (GDP) growth of 4.3 percent in the latter half of this year, thanks to the export and consumption frenzy.
Director of the UTCC Center for Economic and Business Forecasting Thanawat Polvichai indicated that the overall economy in the first half of 2011 was expanding continuously from the previous year at the rate of 2.9 percent. Further improvement is expected in the third quarter with a growth of 4 percent upon many signs of economic revival, especially the increasing domestic consumption and the prosperous export sector.
Considering the more favorable political climate, the steady economic recovery and the higher purchasing power among agriculturalists, the national GDP is likely to expand by 4.3 percent during the last half and 3.6 percent for the whole year. The GDP estimate for 2012 has been set at 4.3 percent.