BANGKOK: Thailand's economy contracted at its sharpest pace in eight years in the first quarter, but by less than expected, as the coronavirus outbreak hit tourism and domestic demand.
Southeast Asia's second-largest economy shrank 1.8% in the January-March quarter from a year earlier, data showed on Monday, versus a 4.0% decline forecast in a Reuters poll. The economy grew a downwardly revised 1.5% in the December quarter.
On a quarterly basis, the economy shrank a seasonally adjusted 2.2% in the March quarter, the National Economic and Social Development Council said, smaller than the forecast 4.5% contraction projected by economists. - REUTERS
source https://www.thesundaily.my/business/thai-q1-gdp-falls-18-y-y-sharpest-contraction-in-8-years-DF2421511
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