BANGKOK: Thailand's economy is expected to contract between 5%-8% this year, deeper than the 3%-5% contraction projected in May, due to the impact of the coronavirus outbreak, a group of the country's leading business associations said on Wednesday.
Despite the easing of virus restrictions, most economic indicators declined in May and June, weighed by the weak purchasing power of households and businesses, while tourism remains under pressure, according to a joint standing committee on commerce, industry and banking.