Thai business group cuts 2021 GDP outlook to as low as 1.5% fall

BANGKOK, Aug 4 (Reuters) - Thailand's leading joint-business group on Wednesday cut it 2021 economic forecast to between 0% growth and a 1.5% contraction, as the country struggles with its biggest COVID-19 outbreak yet.

Southeast Asia's second-largest economy faces a risk of another year of recession, the group said in a statement. In July, it predicted growth of 0% to 1.5% this year.

(Reporting by Kitiphong Thaichareon and Satawasin Staporncharnchai; Writing by Orathai Sriring; Editing by James Pearson)