THAILAND
Snapshot
The economic impact of the worst flooding in over 50 years was far worse than expected by both market analysts and government officials. GDP contracted 9.0% in the fourth quarter, dragged down by a sharp deterioration in the external sector and a strong contraction in domestic demand. At the sector level, manufacturing nosedived 21.8%. As a result of the devastating fourth quarter result, the economy grew just 0.1% in the full year 2011, well below the 7.8% increase recorded in 2010.
Forecasts
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