Thailand's growth shrinks to 2.6%
23-02-2009
Thailand's economy grew 2.6 percent last year - down from 4.9 percent in 2007. The slower growth was largely due to a contraction in the final quarter of last year. It shrank 4.3 percent, because of slowing production growth, manufacturing and exports. The Thai economy is expected to contract one-percent this year. At the same time, Singapore says its economy could shrink by more than five percent this year, exceeding the government's revised forecast of a contraction ranging from two to five percent.
