Thailand’s consumer confidence index (CCI) plunged for the sixth consecutive month to 77.9 in September and to its lowest in 11 months, an academic survey revealed today.

Thanawat Polvichai, director of the Economic and Business Research Centre of the University of Thai Chamber of Commerce, said Thai people’s consumption will slow successively until the fourth quarter in light of lack of any recovery signals.

He said consumers have remained wary of various situations, especially Thailand’s export slowdown, which has its consequences for the Thai economy, such as the higher cost of living, political volatility, global economic drawbacks and floods.

The university research centre predicted a slowdown in consumer purchasing until at least mid-Q4 since there are no signs of economic recovery, said Dr Thanawat who indicated that the CCI in the fourth quarter would not improve unless the government achieves political stability and speeds up budget disbursements through financial policy to encourage liquidity. (MCOT online news)

via Thai consumer confidence nosedives to lowest in 11 months | MCOT.net | MCOT.net.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thailand’s consumer confidence index (CCI) moved upward in June

Thailand’s consumer confidence index (CCI) increased in June for the first time in six months, buoyed by emerging signs of economic recovery due to the continued easing of Covid-19 control measures and improved business activities.

Russian Invasion to Shrink Ukraine Economy by 45 Percent

The war is also hitting hard the emerging and developing economies of Europe and Central Asia, a region that was already heading for an economic slowdown this year from the ongoing effects of the pandemic

Which emerging markets are looking to bolster electric vehicle production?

Thailand is not alone in the region when it comes to building up its EV capacity, with Indonesia also unveiling a series of measures in recent years.