Thailand Signals Slower Growth as Export Outlook Wanes: Economy

Thailand signaled growth in the second half of this year may be weaker than previously forecast as a global slowdown hurts exports from Southeast Asia’s second-biggest economy.

Gross domestic product is forecast to expand 5.5 percent to 6 percent, compared with a previous growth range of 5.5 percent to 6.5 percent, Arkhom Termpittayapaisith, secretary-general of the National Economic and Social Development Board, said in Bangkok today. It reduced the forecast for export growth to 7.3 percent from 15.1 percent on concern Europe’s crisis will damp demand, he said.