Thailand predicts fall in GDP

Thailand's government expects a drop country's of 3.7% in this quarter as nation has experienced the most terrible flooding in 70 years. National Economic and Social Development Board have revised the estimate of 2011 growth rate from 4% to 1.5% while Bank of Thailand is planning to cut borrowing rates to stimulate growth. Floods in Thailand destroyed thousands of industrial plants and disturbed supplies for some of the world's biggest producers.