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Thai Q1 GDP shrinks worse-than-expected 2.1%, 2014 growth forecast cut

Published on May 19, 2014 11:12 AM

BANGKOK (Reuters) - Thailand's economy contracted 2.1 per cent in the first three months from the previous quarter and 0.6 per cent from a year earlier as exports were soft and prolonged political unrest has battered domestic demand and tourism.

A Reuters poll of economists had forecast a quarter-on-quarter contraction of 1.6 per cent in January-March, and year-on-year growth of 0.1 per cent.

The National Economic and Social Development Board, which compiles the data, revised quarter-on-quarter GDP in October-December 2013 to 0.1 per cent growth from 0.6 per cent growth stated earlier.

It left year-on-year growth for the last quarter of 2013 at 0.6 per cent.

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