Thailand's GDP seen shrinking in Q1, outlook weak amid third virus wave

BANGKOK, May 15 (Reuters): Thailand's economy likely shrank in the first quarter of this year, a Reuters poll showed on Friday, as coronavirus outbreaks in the beginning of 2021 hurt consumption and tourism, slowing the pace of the economic recovery.

South-East Asia's second-largest economy, which is heavily reliant on tourism, likely contracted 3.3% in the first quarter from a year earlier, according to the median estimate of 11 economists in the poll. It slumped 4.2% in the final quarter of 2020.