Thai economy sees biggest contraction since financial crisis

CRIPPLING EFFECTS: The tourism and export-reliant economy shrank 12 percent in the second quarter, better than a 13 percent slump shown in a poll Reuters, BANGKOK Thailand’s economy saw its biggest annual contraction in 22 years and a record quarterly fall in the April-to-June period, as the COVID-19 pandemic and restriction measures hit tourism, exports and domestic activity, prompting an outlook downgrade. Southeast Asia’s second-largest economy, which is heavily...