Private sector worries political conflict will affect consumers’ confidence

0
395

BANGKOK, 9 December 2013 The private sector has voiced its concerns over the current political deadlock, saying it could have a negative impact on domestic consumption. 

In the wake of rising tensions from the anti-government demonstrations, the Thai Gifts Premiums & Decorative Association expressed its worries that the situation could lower consumers’ spending, especially on New Year gifts, as the New Year celebration was just right around the corner.

The association expected that the souvenir and gift industry would grow by 8 percent this year, 2 percent lower than its previous anticipation.

It added that the private sector did not want to see the current conflict drag on until the end of the year, as the country’s domestic consumption would grind to a halt, while consumers’ and investors’ confidence would be ruined; all of which would have a domino effect on the country’s economy in 2014.