Thailand emerges from recession

Inflation has been eating into consumers' spending power

Thailand's economy has emerged from recession, the latest figures show.

Gross domestic product grew at a quarterly rate of 1.2% in the fourth quarter of 2010, the National Economic and Social Development Board said.

Thailand's economy had contracted by 0.6% during the second quarter and by 0.3% in the third, putting it into a technical recession.

The rebound was helped by a pick up in exports in the final three months of 2010.

Analysts said that the improving growth figures, coupled with higher food and commodities prices may put further pressure on the central bank to raise its interest rates.

The Bank of Thailand raised its main cost of borrowing by a quarter of a percentage point to 2.25% last month to curb price rises.

Economists expect the bank to further raise interest rates at its next meeting in March.

This article is from the BBC News website. � British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.

Source: http://www.bbc.co.uk/go/rss/int/news/-/news/business-12520647

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