Protest-hit Thai economy slows in Q4 of 2013 with 0.6% growth
BANGKOK (AFP) - Thailand's economy grew 0.6 per cent in the final three months of 2013 compared with the same quarter a year earlier, data showed on Monday, as political turmoil hit consumer confidence and tourism.
With no end in sight to more than three months of anti-government protests, the National Economic and Social Development Board (NESDB) also trimmed its growth outlook for 2014.
The fourth-quarter gross domestic product growth figure represents a sharp slowdown from the 2.7 per cent year-on-year expansion in the previous quarter.
It was the fourth straight quarter of slowing growth in the kingdom and meant that overall the Thai economy expanded at a weaker-than-expected 2.9 per cent across 2013, the board said.