Thailand unexpectedly slips into mild recession in Q2
BANGKOK (REUTERS) - Thailand's economy contracted unexpectedly in the second quarter, slipping into a mild recession, amid weakness in exports, domestic consumption and investment.
Southeast Asia's second-largest economy shrank 0.3 percent in the second quarter from the preceding three-month period, after contracting by a revised 1.7 percent in January-March, data showed on Monday.
The median forecast in a Reuters poll was for growth of 0.2 percent growth. A recession is typically defined as two consecutive quarters of contraction in gross domestic product (GDP).
On an annual basis, economic growth in April-June slowed to 2.8 percent, versus 3.3 percent in the poll, and compared with a revised 5.4 percent in January-March.