Consumer Sentiment Index during current administration higher than in previous government: ABAC poll

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BANGKOK, Sept 2 –  Overall ABAC Consumer Sentiment  Index (ACI) in the current government stood at 51.01 points higher than the 37.6 point registered at the end of the previous government, according to a poll by Assumption University (ABAC).

Udom Hongchartkul, director of the ABAC Consumer Index project and Noppadon Kannika, director of ABAC’s Social Innovation Management and Business Analysis (SIMBA), disclosed its research survey on ACI after the cabinet of Ms Yingluck Shinawatra administration was installed.

Compared to the end of the previous government, almost all consumer confidence indices rose at the beginning of Ms Yingluck’s administration except indices on plans for buying durable goods and job opportunities.

However, the ACI survey, conducted last month, showed that consumers lacked confidence because all indices were below 100.

At the beginning of Ms Yingluck’s tenure the ACI stood at 51.01 points and all indices were below 100, indicating consumers are still not confident in economy and measures to address economic problems by the current government. The lowest index registered is the consumer confidence indicator on goods prices at 15.6 points.

Mr Udom said that consumers lacked of confidence due to some negative factors including news on the government’s economic policies — the increase of daily minimum wage and the starting salary for university graduate — which disappointed the public. Costs of consumer goods are still high and flood problems in many provinces have an impact on farm products.

The government should clarify implementing its policies, particularly increasing income boosts, and reducing the cost of living, as well as assistance measures for farmers affected by the disaster.

The survey was conducted among 2,764 consumers aged over 18 years old in 12 provinces from Aug 15-31, 2011. Twelve provinces are Bangkok, Pathum Thani, Chonburi, Nakhon Ratchasima, Udon Thani, Kalasin, Chiang Mai, Mae Hong Son, Nakhon Sawan, Prachuap Khiri Khan, Phuket and Songkhla.