Retailers slash 2013 growth outlook | Bangkok Post: business

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Retailers slash 2013 growth outlook

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The Thai Retailers Association (TRA) has revised down its growth forecast for retail and wholesale business this year to 9% from 12% due to declining consumer purchasing power. 

President Busaba Chirathivat cited government spending of 500-600 billion baht through economic stimulus schemes that have not spurred consumption as expected.

The retail and wholesale industry grew by 9% in the first half of this year, with the trend likely to continue in the second half.

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