Thailand’s economy posts slower pace than expected in Q3
On a yearly basis, the country’s economy grew 0.6% when compared to the same period of 2013. Initial forecasts called for an increase of 1.8% on a quarterly basis and annual growth of 1.0% in a survey conducted by Reuters. Thailand’s weaker economic growth was attributed to lower exports and a contraction in the tourism sector. The country’s exports decreased 1.7% in the third quarter of this year because of slower global growth widely affecting the main sectors like autos and agriculture.
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