Banks raise axe on 2013 economic forecasts | Bangkok Post: business

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Banks raise axe on 2013 economic forecasts

Cuts of up to one point, more for exports

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Commercial banks have joined policymakers and state agencies in revising down the country's economic growth forecasts for 2013 amid clear signs domestic consumption and exports are losing momentum. 

TMB Analytics, TMB Bank's research unit, plans to cut its gross domestic product (GDP) growth forecast for this year to between 4% and 4.5% from 5%.

It also plans to slash export growth projection to less than 5% from 7% now.

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