Thailand Downgrades Growth Prospects

Still growing faster than the US


Thailand downgraded its growth forecast for the year due to slower-than-expected economic growth in the second quarter, which was hurt by weak exports.

The government now projects 3.8-4.3 percent growth for 2013, instead of the 4.2-5.2 percent it estimated earlier. The previous estimate was based on the assumption that growth in the second quarter will range between 3.3 percent and 4.3 percent.