The gross domestic product (GDP) in the April-June period accelerated from an upwardly revised 1.6 percent growth in the previous quarter as government spending slightly rebounded, despite contractions in public and private investments, according to data from the Office of the National Economic and Social Development Council (NESDC).
On a quarterly basis, the GDP grew a seasonally adjusted 0.8 percent in the second quarter of this year, easing from an upwardly revised 1.2 percent increase in the January-March quarter, the NESDC said in a statement.
The NESDC expects the Southeast Asian nation's economy to grow 2.3-2.8 percent this year, narrowing from an earlier projection of 2.0-3.0 percent, supported by an ongoing recovery in the tourism sector, favorable growth in private consumption and an upsurge in government budget disbursements.
Latest comments