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The Associated Press February 22, 2010, 4:02AM ET

Thai economy grows in Q4 after year of contraction

Thailand's economy bounced back in the fourth quarter, posting year-on-year growth after 12 months of contraction amid a recovery in exports, private investment and household spending.

Southeast Asia's second-largest economy expanded by 5.8 percent in the October-December period from a year earlier, the National Economic & Social Development Board said Monday.

That ended four straight quarters of contraction that began in the last three months of 2008 amid the global financial crisis.

For all of 2009, the economy shrank by 2.3 percent.

The state economic agency predicts Thailand's gross domestic product to grow in a range of 3.5 to 4.5 percent this year, depending on the strength of the global economic recovery.


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