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Protest-hit Thai economy slows in Q4 of 2013 with 0.6% growth

Published on Feb 17, 2014 7:10 PM
 
Thai soldiers stand guard during a protest against the government's repeatedly delayed payments for rice submitted to the pledging scheme at the government's temporary office in Bangkok on Feb 17, 2014. 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. -- PHOTO: AFP

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.

 
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