By Tientip Subhanij.
Once again, it has been a terrible month for Thai politics. Tension is building up everywhere… Against this chaotic background, the country’s economic outlook is being revised down again.
- Third-quarter gross domestic product growth was lower than expected, at just 2.7%, compared with 2.9% in the second quarter. The National Economic and Social Development Board (NESDB) said
- the slowdown mainly reflected a sharp contraction in investment, which decreased 6.5%.
- Domestic consumption, which makes up about half of GDP, also contracted 1.2% due to lower spending on automobiles after the first-car tax rebate scheme expired.
- For 2013, the NESDB cut its GDP growth forecast to 3%, from a range of 3.8% to 4.3% projected in August…
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