Thai consumer confidence index worst in 26 months

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1224

The Thai consumer confidence index (CCI) has plummeted for the last 10 consecutive months to its lowest in 26 months at 61.4, according to the University of Thai Chamber of Commerce (UTCC).

UTCC Rector Saowanee Thairungroj said the latest survey showed the country’s worst index since December 2011 given concerns about the political stalemate, economic slowdown and uncertainty in global economic restoration which could negatively impact Thailand’s economic recovery and consumers’ income.

The overall January CCI at 61.4 dropped from 63.2 in December, reflecting consumers’ lack of confidence towards the economy, she said, adding that the economy-related index also declined from 55.4 in December to 53.8 in January – the lowest in 23 months from March 2012.

On employment opportunities the index was 65.1 in January, dropping from 66.7 in December, and lowest in 25 months from January 2012.

Ms Saowanee predicted further CCI decline until the second quarter of the year given lack of signal on economic recovery, indicating that the economy should strengthen when the political situation improves but the timing was unclear, while global economy remained volatile.

The Thai people’s happiness index dropped to 67.6 in January, the lowest in 93 months since May 2006 due to concerns about the political situation and economic slowdown which have impacted people’s future income and way of life.

The survey found that nearly two-thirds — 59.1 per cent — of the Thai people lacked confidence in political stability, and predicted negative situation as well as ongoing problems in the next three months.