ThaiRecession

24 AUGUST 2013 - BANGKOK, THAILAND: Food cart operators wait for customers on a street in Bangkok. Thailand entered a “technical” recession this month after the economy shrank by 0.3% in the second quarter of the year. The 0.3% contraction in gross domestic product between April and June followed a previous fall of 1.7% during the first quarter of 2013. The contraction is being blamed on a drop in demand for exports, a drop in domestic demand and a loss of consumer confidence. At the same time, the value of the Thai Baht against the US Dollar has dropped significantly, from a high of about 28Baht to $1 in April to 32THB to 1USD in August. PHOTO BY JACK KURTZ

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Filename: ThailandRecession042.jpg
Copyright: © Jack Kurtz
Image Size: 5257x3505 / 11.5MB; 082413 Bangkok Economy Food Khlong Toei Klong Toei Klong Toey KlongToei KlongToey Market Recession Street Food Street Scene Thailand ZUMA
Contained in galleries: Thai Economy Slips into Recession, Thailand (All)

24 AUGUST 2013 - BANGKOK, THAILAND: Food cart operators wait for customers on a street in Bangkok. Thailand entered a “technical” recession this month after the economy shrank by 0.3% in the second quarter of the year. The 0.3% contraction in gross domestic product between April and June followed a previous fall of 1.7% during the first quarter of 2013. The contraction is being blamed on a drop in demand for exports, a drop in domestic demand and a loss of consumer confidence. At the same time, the value of the Thai Baht against the US Dollar has dropped significantly, from a high of about 28Baht to $1 in April to 32THB to 1USD in August. PHOTO BY JACK KURTZ