Thai Economy Forecast To Contract In Q3, May Recover In Q4

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Thailand's economy is expected to contract between 3% and 4% in the third quarter, the Office of Fiscal Budget spokesman, Ekniti Nitithanprapas said Wednesday.

The official also said gross domestic product or GDP would grow by 3% to 4% in the final quarter of the year.

Ekniti stated that his office will announce revised GDP outlook for 2009 on September 28. In June, the office has projected the economy would contract 2.5%-3.5% this year.

Thailand's economy is expected to contract between 3% and 4% in the third quarter, the Office of Fiscal Budget spokesman, Ekniti Nitithanprapas said Wednesday. (Market News Provided by RTTNews)