Thailand’s Economic Growth Slows, With Yuan Denting Outlook

Thailand’s economic growth slowed in the second quarter as improving government spending and tourism failed to counter weak local demand and exports, with the outlook clouded by drought and the yuan’s devaluation.

Gross domestic product gained 2.8 percent in the three months through June from a year earlier, the National Economic and Social Development Board said in Bangkok Monday. That matched the median estimate in a Bloomberg survey, and compares with 3 percent in the previous period. GDP grew 0.4 percent from the previous quarter.