Thai planning agency trims 2014 GDP growth forecast to 1.0 pct

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BANGKOK (Nov 17): Thailand's planning agency on Monday trimmed its economic growth forecast for this year to 1.0 percent from 1.5-2.0 percent seen in August, citing weak exports.

In 2013, growth was 2.9 percent.

The National Economic and Social Development Board, which compiles gross domestic product (GDP) data, also cut its 2014 export growth projection to zero from 2.0 percent seen earlier.

But the agency maintained its 2015 GDP growth forecast at 3.5-4.5 percent.

The Bank of Thailand has predicted growth of 1.5 percent for this year and 4.8 percent next year, but is expected to cut those forecasts again when it meets next month.

Economists in a Reuters poll last week saw growth of 1.3 percent this year and 4.0 percent next year.