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BANGKOK, May 15 (Reuters): Thailand s economy likely shrank in the first quarter of this year, a Reuters poll showed on Friday, as coronavirus outbreaks in the beginning of 2021 hurt consumption and tourism, slowing the pace of the economic recovery. South-East Asia s second-largest economy, which is heavily reliant on tourism, likely contracted 3.3% in the first quarter from a year earlier, according to the median estimate of 11 economists in the poll. It slumped 4.2% in the final quarter of 2020. On a quarterly basis, gross domestic product (GDP) likely shrank a seasonally adjusted 0.8% in the March quarter after posting growth of 1.3% in the fourth quarter of last year.

Krung thep mahanakhonRadhika raoSoutheast asiaTakit chartchredsakDevelopment councilNational economicEast asiaAsia plusSocial development councilTo go lowerCovid 19Big hitBadly affectedNew projectionMonday may 17ராதிகா ராவ்