Thailand’s economy rebounded strongly in 2012, with GDP growth of 6.4% recorded compared to 0.1% in 2011, when the dramatic decline in economic performance resulted from devastating floods that inundated industrial estates, farmland and parts of the capital Bangkok. Fixed capital investment also rose last year by 13.4%. Asian Development Bank notes that this was propelled by reconstruction of flood-damaged factories, homes and other infrastructure and the replacement of capital equipment. Public construction was also stimulated by transport and telecoms projects.