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Moody’S Forsees Recession

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<p>The Thai economy will likely expand by 0.2% or even contract this year, according to a Moody’s report.</p>

<p>The coup could cause the economy to shrink, Fred Gibson wrote in Moody’s Analytics on Friday.</p>

<p>Persistent political squabbling could also affect the long-term investment outlook and, by extension, the</p>

<p>economy’s growth potential.</p>

<p>Exports, the only bright spot in the latest economic data, will likely ease as the outlook across major trading partners has softened.</p>

<p>The higher sales tax in Japan is expected to weigh heavily on growth over the coming quarters, with knock-on effects for Thai exporters, he said.</p>

<p>“We have lowered our US 2014 GDP forecast to 2.6% from over 3% earlier with the weak first quarter GDP numbers and softness in the housing market.</p>

<p>“Given recent events we now think the economy will record a second negative quarter in the three months to June, putting it in recession,” he wrote.</p>

<p>via <a href="http://www.bangkokpost.com/most-recent/411426/moody-forsees-recession">Moody’s forsees recession | Bangkok Post: Most recent</a>.</p>

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