Thailand's GDP grows 2.8% in Q2

Gross domestic product (GDP) growth of Thailand for the second quarter of 2013 expanded by 2.8 percent on the same period last year, a government think tank reported on Monday. The National Economic and Social Development Board (NESDB) attributed the slower pace of growth in the second quarter compared to the previous one to a slowdown in household spending and private investment and a decline in exports caused by a strong baht and global economic recession. Meanwhile, NESDB lowered its growth projection for 2013 to 3.8- 4.3 percent from the previous prediction of 4.2-5.2 percent due to a slower than expected global economic recovery, less mobilization from the government's stimulus measures, a delay in the government 's investment plans and the ongoing internal political conflict.