SCB warns of recession sparked by virus epidemic
Siam Commercial Bank’s Economic Intelligence Centre (EIC) has warned Thailand is on course for a technical recession in the first half of the year as the centre cuts its 2020 GDP forecast for the country to -0.3% from the previous 1.8% due to the increasing gravity of the Covid-19 epidemic.
The global economy is forecast to slow further due to the weakened economies of China and major countries, particularly in Europe, suffering outbreaks of the virus, the centre said.
Bangkok Post Reporter
