The University of the Thai Chamber of Commerce (UTTC) said consumer confidence hit a record low in April, dropping to 46.0 from 48.5 in March, dented by a new wave of COVID-19 infections.
UTTC president Thanavath Phonvichai said consumers feel that the economy has not recovered much and, lacking catalysts and consumer confidence, will remain on a downward trend with no signs of recovery until new infections decrease and more vaccinations are administered.
He said the university estimated an economic loss of 400-600 billion baht if the outbreak continues beyond this month, adding that the government should rush to implement fresh relief measures to help shore up the economy.
The latest outbreak has accounted for more than half of Thailand’s total infections and deaths and has slowed domestic activity. (NNT)