Consumer Confidence Index Plunges to 68.3 in Dec, Lowest in 68 Months

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BANGKOK  – Thailand’s consumer confidence index continued to plunge to a 68-month low in December 2019 but there are signs of economic recovery thanks to government’s stimulus measures, the University of the Thai Chamber of Commerce (UTCC) says.

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UTCC’s Vice President ThanavathPholvichai announced on Friday the latest survey that shows the consumer confidence index in December dropped to the lowest since May 2014 at 68.3 points, down from 69.1 in November.

Thanavath said the consumer sentiment decline was due to worries about the economy and political stability.

However, he said the UTTC believed government stimulus measures were gradually bearing fruits while farm product prices had improved.

These trends would lead to positive sentiment in the second half of the year, said Thanavath.

The lingering concerns over the US-China trade war might be settled by the end of January while higher prices for fuel and consumer goods and the rising cost of living continued to weigh in.

The UTTC planned to announce its revised GDP growth forecast on Monday, after previously predicted a 3.1 percent growth, he said.