Thailand's economy hit a three-year low in 2014 and economic data from the first months of the year show that growth remains sluggish. In February,monthly data indicate that private investment and private consumption contracted on an annual basis as both consumers and businesses were cautions about spending. In the same month,exports contracted at the sharpest rate in six months reflecting faltering demand from China and the ASEAN countries. In more recent news, Thailand could face a trade ban from the European Union if it doesn't crack down on illegal fishing in the next six months Acknowledging that the ban could cost the country nearly half a billion euros in annual exports, the Thai government has declared that it is systematically working on tackling unregulated fishing in order to meet the union"s six month deadline