The Thai economy likely posted a contraction of between 3.5% and 4% in the third quarter compared with the year before, according to Ekniti Nitithanprapat, a spokesman for the Finance Ministry. This would be a sharp improvement from the 4.9% year-on-year decline seen in the second quarter and the 7.1% contraction posted in the first quarter.
Contraction looks set to narrow in Q3
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