ADB lowers 2012 Thai GDP growth forecast to 5.2 percent

The Asian Development Bank (ADB) lowered its 2012 gross domestic growth projection for Thailand from 5.5 percent to 5.2 percent, Bangkok Post online reported on Wednesday. ADB's senior economist, Lucksamon Atthapich, said the ADB also slashed its growth forecast for 2013 to 5 percent from the previous projection of 5.5 percent. Lucksamon said the ADB expected Thai exports to grow by only 5 percent this year, with a strong potential of further growth next year. Thai export products that were down in the midst of a slump in global demand included electronics, electrical appliances, garments, natural rubber and rice, she said.