BANGKOK (Reuters) – Thailand’s leading joint business group said on Monday the economy is expected to grow by 2.75% to 3.5% this year, rather than the 2.5% to 4.0% range it predicted earlier, taking into account higher inflation and a possible global recession.
Headline inflation is now expected to average 5.0% to 7.0% this year, up from 3.5% to 5.5% projected in June, according to the group, which includes representatives from industry, banking and commerce.
(Reporting by Satawasin Staporncharnchai; Writing by Orathai Sriring; Editing by Ed Davies)
