Tuesday, February 18, 2014

Thai GDP growth slows

Months of political turmoil in Thailand have taken a toll on the economy. Growth in the last quarter of 2013 was the slowest in almost 2 years.

Officials at the National Economic & Social Development Board said on Monday that gross domestic product in the October-to-December period rose 0.6 percent from a year earlier.

That was down 2.1 points from the increase recorded in the previous quarter. And it was the smallest rise in GDP since the first quarter of 2012...after major floods devastated parts of the country.

Voters went to the polls in a general election earlier this month. But anti-government protests have made it impossible to form a new government.

The officials have downgraded their growth forecast for this year...from a maximum of 5 percent to 4 percent.