Thailand's GDP shrinks more than estimated after floods

BANGKOK - Thailand's economy shrank more than economists estimated as the worst floods in almost 70 years disrupted output from Western Digital Corp, Honda Motor Co and other manufacturers.

That put pressure on policymakers to boost the country's economic growth.

In the three months leading up to December, Thailand's GDP declined 9 percent below what it had been in the same period a year earlier. In the previous quarter, it had climbed by 3.7 percent, according to revised numbers, the National Economic and Social Development Board said in Bangkok on Monday. Last year, the economy grew 0.1 percent.