Thai central bank projects sharply lower growth

The Thai central bank scaled back to 4.2% its forecast for 2013 economic growth, a sharp reduction from its 5.1% outlook three months ago. "The main factor that led us to predict a significantly slower growth is the Asian economic condition, particularly the Chinese economy, which has been and will be affecting Thai exports and the industrial sector," said the bank's assistant governor, Paiboon Kittisrikangwan, who also cited slower domestic consumption.

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