Economist at UOB Group Barnabas Gan assessed the latest GDP figures in Thailand. Key Quotes “Thailand’s GDP fell 12.2% y/y (-9.7% q/q sa) in the second quarter of 2020, clocking the deepest contraction since 2Q98 (-12.5% y/y, -4.1% q/q sa). The economy has been dragged by its key growth engines, specifically trade and tourism.” “Given the double-digit contraction seen in 2Q20, the National Economic and Social Development Council downgraded its GDP outlook to a range of between -7.3% and -7.8% in 2020, down from its previous range outlook of between -5% and -6%. This compares to Bank of Thailand’s recently revised outlook of -8.1%.” “Thailand remains to be one of the Asian economies that is very dependent on trade and tourism. Given the deterioration in the outlook for these industries, we downgrade Thailand’s GDP outlook to -7.5% in 2020, down from our previous outlook of -5.4%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Pound Sterling Price News and Forecast: GBP/USD fresh advance brings 2020 high in focus FX Street 2 years Economist at UOB Group Barnabas Gan assessed the latest GDP figures in Thailand. Key Quotes “Thailand’s GDP fell 12.2% y/y (-9.7% q/q sa) in the second quarter of 2020, clocking the deepest contraction since 2Q98 (-12.5% y/y, -4.1% q/q sa). The economy has been dragged by its key growth engines, specifically trade and tourism.” “Given the double-digit contraction seen in 2Q20, the National Economic and Social Development Council downgraded its GDP outlook to a range of between -7.3% and -7.8% in 2020, down from its previous range outlook of between -5% and -6%. This compares to Bank of Thailand’s recently… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
