The University of the Thai Chamber of Commerce cuts GDP forecast to 4.3% | Bangkok Post: news

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UTCC cuts GDP forecast to 4.3%

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The Thai economy is at risk of slower growth if China and the European Union continue to drag down the global economy, the University of the Thai Chamber of Commerce (UTCC) said on Monday, cutting its projection for GDP growth to 4.3% in 2013. 

The university in February predicted economic growth of 5% for the year.

Thanavath Phonvichai, UTCC’s vice president for research, said the Thai economy remains at risk of slower growth by the end of this year because of the continuing world economic slowdown, especially in China, weakened domestic consumption, growing concern about the political situation, and burgeoning household debt.

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