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Thailand's Retail Sales Contract 20% in April

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Retail sales in Thailand fell 20% year over year in April, according to the Retail Sales Index (RSI) compiled by the Bank of Thailand and released on Tuesday.

The reading compared with a 21.3% increase recorded in the previous month and missed the 50% growth forecast by Trading Economics.

By broad product category, sales of non-durable goods, which cover food, beverages, and pharmaceutical items in specialized stores, rose 5.5% year over year.

The durable goods subindex, tracking electronics, household appliances, and hardware components, registered an 8.6% jump.

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