Thai Economy Contracts At Slower Pace In Q2

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3:10 GMT

Aug 2009

Thai Economy Contracts At Slower Pace In Q2

(RTTNews) - Thailand’s economy contracted 4.9% year-on-year in the second quarter, slower than a 7.1% drop in the first quarter, the country’s National Economic and Social Development Board said Monday. Economists expected the economy to contract 5.1%.

Compared to the previous quarter, the gross domestic product rose a seasonally adjusted 2.3% in the second quarter, in line with economists’ estimates and reversing a 1.8% fall in the first quarter.

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