Thai consumer confidence nosedives to lowest in 11 months

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BANGKOK, Oct 3 – Thailand’s consumer confidence index (CCI) plunged for the sixth consecutive month to 77.9 in September and to its lowest in 11 months, an academic survey revealed today.

Thanawat Polvichai, director of the Economic and Business Research Centre of the University of Thai Chamber of Commerce, said Thai people’s consumption will slow successively until the fourth quarter in light of lack of any recovery signals.

He said consumers have remained wary of various situations, especially Thailand’s export slowdown, which has its consequences for the Thai economy, such as the higher cost of living, political volatility, global economic drawbacks and floods.

The university research centre predicted a slowdown in consumer purchasing until at least mid-Q4 since there are no signs of economic recovery, said Dr Thanawat who indicated that the CCI in the fourth quarter would not improve unless the government achieves political stability and speeds up budget disbursements through financial policy to encourage liquidity.