World Economy

Thai Growth Slows

Thai Growth SlowsThai Growth Slows

Thailand’s economy slowed in the second quarter hit by weak domestic demand and exports, official data showed Monday, with growth expected to be hampered by China’s devaluation of the yuan, AFP reported. Gross domestic product grew 2.8% compared to a year earlier between April and June, in-line with a forecast from analysts polled by Bloomberg News but down from 3% in the previous quarter. Growth also faces “major constraints” for the rest of 2015 after China’s devaluation of its currency will likely increase competition for Thai exports, the national economic and social development board said.