BANGKOK - Thailand's economy shrank 1.8 percent in the January-March quarter due to the impact of the coronavirus pandemic, government data showed Monday, marking the first contraction in six years.
BANGKOK - Thailand's economy shrank 1.8 percent in the January-March quarter due to the impact of the coronavirus pandemic, government data showed Monday, marking the first contraction in six years.
Thosaporn Sirisumphand, the council's secretary general, said the economy could shrink by even more in the second quarter due to the effect of the lockdown imposed in March. The state planning agency projected 2020 gross domestic product to contract 5.0 to 6.0 percent, down from its earlier forecast of 1.5 to 2.5 percent growth.
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