India, Feb. 16 -- Thailand's economic growth accelerated more than expected in the fourth quarter on strong domestic demand, official data revealed Monday.
The annual growth in gross domestic product more than doubled to 2.5 percent in the fourth quarter from 1.2 percent in third quarter, the National Economic and Social Development Council, or NESDC, reported. Economists had forecast the rate to ease to 1.0 percent.
On a quarterly basis, GDP rebounded 1.9 percent, reversing the third quarter's 0.3 percent contraction.
The expenditure-side of GDP showed that private consumption grew 3.3 percent due to higher spending on semi-durable goods and services. At the same time, government spending rebounded 1.3 percent on higher compensation of ...