The Thai economy showed signs of recovery in Q3 with GDP growing 2.9% in annual terms, thus outpacing Q2’s expansion. The encouraging result was due to a pickup in exports, which more than offset faltering domestic demand. The government’s economic stimulus announced earlier this year has improved consumers’ moods as was evident in that the consumer confidence index increased for the first time in 10 months in October. However, it’s not clear yet whether this will translate into higher private consumption going forward. Last month, the government announced that future economic policy will focus less on stimulus programs and more on medium-term reforms aimed at boosting the country’s competitiveness, reducing income inequality and curbing corruption. The government, however, didn’t specify how and by when it plans to achieve these objectives.