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Thailand’s Consumer Confidence Drops to a 33 Month Low

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BANGKOK – University of the Thai Chamber of Commerce (UTCC) reports, Thailand’S consumer confidence has fallen to a 33-month low.

Amid concerns about the economic slowdown, political instability, US-China trade war and the soaring Thai baht.

UTCC’s Economic and Business Forecast Center revealed the latest survey result that show Consumer Confidence Index dropping for six straight months.

UTCC’s Economic and Business Forecast Center director Thanavath Pholvichai said Index dropped for six straight months to 73%

Recently the government introduced economic stimulus measures to inject Bt316 billion into the economy. However consumers remained worried about Thailand’s overall economic outlook.

Arising from the impacts of US-China trade war and Thailand’s political instability.

The survey did not reflect the effects of the two powerful storms, Podul and Kajiki, on the agricultural sector with estimated at Bt5-8 billion in damage.

UTCC’s director Thanavath Pholvichai said the consumer index continuing to fall but Center believed Thailand’s economic growth could still expand. 3-3.2 percent.

Due to government stimulus measures and flood relief packages.

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