Thailand’s economic confidence index for the month of September dropped for nine consecutive months to the lowest level in 16 months.

Associate Professor Thanawat Pholvichai, director economic and business forecast centre of the university, said Thursday that the economic confidence index for September to 72.1 which is the lowest in 16 months since June last year, according to the survey conducted by the University of Thai Chamber of Commerce.

He attributed the economic slowdown to declining confidence of the consumers as they were worried with the overall economic situation which has not recovered yet while exports continue to contract and new employment has slowed down.

Thanawat said that consumers were cautious in their spending while car and real estate sale has slowed down.However, he predicted that consumption might pick up in the fourth quarter after the injection of the government’s funding for economic stimulus package into the economic system.

Source: Economic confidence index for September the lowest in 16 months – Thai PBS English News

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