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US, European Slowdown Knocks Thai Growth Forecast Down to 2.2 Percent.
Byline: Darana Chudasri
Sep. 8--Economic growth is projected at 2.2 percent this year, off almost 0.9 percentage points due to the slowdown in the EU and the United States, according to Citibank.
Anusorn Tamajai, a vice-president at Citibank, said global growth was now projected at 1.8 percent this year, down from forecasts in February of 2.2 percent . Next year, growth was projected at 2.7 percent , down from previous forecasts of 3.6 percent .
Dr Anusorn said the downturn in production among the Group of Seven industrialised countries has been the biggest since 1980. Citibank projected the US economy to grow only 1.6 percent this year, down from previous forecasts of 1.9 percent . US economic growth next year was projected at 3 percent , compared with previous forecasts of 3.5 percent .
...
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