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Thailand’s economy hit its sharpest downturn in eight years in the first quarter. Though it contracted by less than speculated, struggling months impend as the coronavirus crisis ravages tourism and domestic activity.
Southeast Asia’s second-largest economy declined by 1.8% in the first quarter from a year earlier. This came to be the sharpest economic reversal since 2011. Thailand’s economy is expected to slide further and may contract worse than the recorded decline during the Asian financial crisis of 1998.
The state planning agency slashed this year’s export figures and tourist count, the primary indicators of Thai economic growth. The agency also reduced this year’s gross domestic product outlook to 5.0%-6.0% contraction rate, far from the initial forecast of 1.5%-2.5% growth rendered last February.
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
Asian markets are poised to start with a firmer tone on Friday, disregarding an overnight decline in U.S. stocks. The decline was mainly from the United States’ move of debating new economic stimulus in a bid to salvage the virus-beaten ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...
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