Thailand Skips Lockdown to Save Economy, But GDP to Take Hit

Thailand’s latest virus outbreak is likely to crimp consumer spending and delay a tourism revival, prompting warnings the economy may undershoot expectations for a rebound this year and next.

Thailand hopes to avoid a full national lockdown to stem a wave of infections that began in mid-December and has spread to more than 50 of 77 provinces. Prime Minister Prayuth Chan-Ocha this week ordered some businesses to close and curbed travel in the worst-hit regions, as opposed to the hard lockdown imposed to quell the initial outbreak last March.

A prolonged outbreak would likely hurt consumer spending…