Thai Economy Slides Into Recession | Jack Kurtz: Photojournalist & Travel Photographer

ThaiRecession

23 AUGUST 2013 - BANGKOK, THAILAND: Shoppers in Central World, a large shopping mall 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: ThailandRecession018.jpg
Image Size: 4608x3456 / 11.7MB; 082413 Bangkok Central World CentralWorld Economy Mall Recession Shopping Thailand
Contained in galleries: Thai Economy Slips into Recession, Thailand (All)

23 AUGUST 2013 - BANGKOK, THAILAND: Shoppers in Central World, a large shopping mall 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