(Adds details, outlook)
BANGKOK, May 15 (Reuters) - Thailand's economy expanded
faster than expected in the first quarter, official data showed
on Monday, helped by a rebound in private consumption and
tourism which will help counter a slowdown in exports.
Southeast Asia's second-largest economy grew 2.7% in the
January-March period from a year earlier, data from the National
Economic and Social Development Council (NESDC) showed.
Economists in a Reuters poll had expected gross domestic
product (GDP) to expand 2.3% year-on-year in the January-March
period after increasing 1.4% in the previous three months.
On a quarterly basis, GDP rose a seasonally adjusted 1.9% in
the March quarter, versus a forecast rise of 1.7%.
Fourth quarter GDP in 2022 was revised to a 1.1%
contraction, from a earlier 1.5% fall.
The tourism-reliant economy's recovery has lagged its
regional peers due to the pandemic, but turned a corner as
Chinese tourists returned in recent months boosting employment
and domestic demand.
The revival of the vital tourism sector will help to offset
the impact from declining exports.
The NESDC kept its 2023 GDP growth forecast at 2.7% to 3.7%.
The economy grew 2.6% in 2022.
(Reporting by Orathai Sriring, Kitiphong Thaichareon and
Satawasin Staporncharnchai; Editing by Martin Petty)
