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Thai Q2 GDP seen shrinking 1.4per cent q/q, outlook weak amid COVID

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BANGKOK : Thailand's economy likely grew in April-June from a year earlier but shrank from the previous quarter, a Reuters poll showed, as the country's biggest COVID-19 outbreak to date hit consumption and already weak tourism, slowing a nascent economic recovery.Southeast Asia's second-largest economy,

BANGKOK : Thailand's economy likely grew in April-June from a year earlier but shrank from the previous quarter, a Reuters poll showed, as the country's biggest COVID-19 outbreak to date hit consumption and already weak tourism, slowing a nascent economic recovery.

On a quarterly basis, GDP likely contracted 1.4per cent in the June quarter on a seasonally adjusted basis after growing 0.2per cent in previous quarter, the poll showed. The economy, quarter-on-quarter, could see"a dip" again in the third quarter before a gradual recovery in the fourth quarter as the restriction are expected to be eased, Bank of Thailand Governor Sethaput Suthiwartnarueput told Reuters https://www.reuters.com/article/idUSL8N2PI5TX on Wednesday.

 

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