Thailand sees drop in CCI for 2 consecutive months

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BANGKOK, 6 June 2013 The University of the Thai Chamber of Commerce revealed that the country’s consumer confidence index (CCI) in May, stood at 82.5, dropping from 83.7 in April. 

Director of the Center of Economic and Business Forecasting of the University of the Thai Chamber of Commerce Thanawat Polwichai said Thailand saw a drop in its CCI for 2 consecutive months. The CCI, in May, was at 82.5, while the confidence index for the overall Thai economy stood at 72.8, and the confidence in employment index stood at 100.4. When compared to the previous month, the figures were lower in all areas.

The director cited worries of consumers over future spending as a key factor of the drop. The worries came after the National Economic and Social Development Board (NESDB) had adjusted the country’s GDP growth anticipation down to 4.2-5.2 percent from 4.5-5.5 percent.

Another factor behind the drop in the country’s CCI was the export sector which saw only a 2.9 percent increase in April, said Mr. Thanawat.