The Thai economy should grow by 3% in the first quarter of this year, on course for an expansion in a range between 3.5% and 4.5% for the whole year, according to a think tank.
The National Economic and Social Development Board (NESDB) said all four economic engines - consumption, public investment, private investment and tourism - had picked up nicely, said secretary general Arkhom Termpittayapaisith.
The economic growth rate has steadily recovered from a contraction of 0.5% in the first quarter of 2014.
For the first two months of 2015, the economy improved compared to the previous months. Tourism, industrial output and public investment rebounded for the first time in six quarters, he said.
The industrial output index increased by 3.8% in February, the first improvement in 23 months, as false demand spurred by the first-time car buyers programme had eased, normalising the automobile industry.
Tourism expanded for the fifth month in a row. Arrivals jumped 22.5% in January and February while the hotel take-up rate surged by 71.9%, the highest in 23 months, he said.
On spending, a rebound was seen as the private sector's investment index picked up for the first time in 20 months while public investment improved on the back of accelerated budget disbursements, which soared 123.2%.
Exports, however, remained sluggish, a result of the lacklustre world economy and slumping farm prices.
Other indicators pointed to stability, Mr Arkhom said, with headline inflation at -0.5%, core inflation at 1.6% and unemployment at 0.9%.