BANGKOK, May 19 (AFP) : Thailand's economy shrunk 0.6 per cent year on year in January-March, data showed Monday, as the kingdom's festering political crisis battered consumer confidence and frightened off tourists.
The contraction is the first since the last three months of 2011, when the country was hit by massive flooding, and comes as opposition protesters press for the removal of a bloodied caretaker government.
The National Economic and Social Development Board (NESDB) also slashed its growth outlook for 2014, forecasting 1.5-2.5 per cent expansion, down from a previous estimate of 3.0-4.0 per cent.
Crisis-hit Thai economy shrinks 0.6pc in Q1
FE Team | Published: May 20, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like