Varuth HirunyathebThailand's economy could contract by 15% year-on-year in the second quarter from lockdown measures, with rising contagion risk affecting economic activities on the external front, says Asia Plus Securities (ASP). "Second-quarter GDP is likely contract for both quarter-on-quarter and year-on-year figures because of the country's lockdown measures against the pandemic," said ASP executive vice-president Therdsak Thaveeteeratham. "The reopening of business activities will help the economy gradually rebound in the second half." The contraction could flare up to 8.4% if exports fall by 13.7%, said the securities firm. Thailand, Asean's second largest economy, reported first-quarter growth of 2.8% from a year earlier, the smallest since 2014's final period.

Source: Bangkok Post July 08, 2020 23:26 UTC