Q1 GDP grows 2.7% y/y, beats expectations

Thailand’s economy expanded 2.7% in the first quarter from a year earlier, official data showed on Monday, faster than expectations, as private consumption and tourism rebounded.

On a quarterly basis, Southeast Asia’s second-largest economy grew a seasonally adjusted 1.9% in the March quarter, data from the National Economic and Social Development Council showed.

Economists in a Reuters poll had expected gross domestic product (GDP) to expand 2.3% year-on-year and 1.7% quarter-on-quarter.