(Reuters file photo)Thailand’s economic growth surged to a five-year high last quarter, beating all economists’ estimates as rebounding farm output added to gains from exports and private consumption. The statistics agency raised its growth forecast for this year to 4.2% to 4.7%, from 3.6% to 4.6%. “Higher exports help support the manufacturing sector,” Wichayayuth Boonchit, deputy secretary general of the state planning agency, said in a briefing in Bangkok. Exports rose 6% from a year earlier. Private consumption gained 3.6% while government spending rose 1.9%The World Bank has said raising Thailand’s potential growth to a range of above 4% to 5% remains a challenge.

Source: Bangkok Post May 21, 2018 04:18 UTC