Thailand enters technical recession in second quarter

BANGKOK - Thailand’s Q2 GDP growth has eased to 2.8% y/y, down from 5.4% in Q1, coming in below expectations of 3.3%. On a q/q sa basis, GDP came in at -0.3%, from a revised -1.7% (-2.2% prior) contraction in Q1. ANZ Bank says it now sees significant downward risks to its 2013 growth forecast of 5.0%.