Thailand consumer confidence in January drops to its lowest level in nine months

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UTCC president Thanavath Phonvichai said consumers would drastically cut their spending in the first quarter and the early period of the second quarter of this year and the condition would continue until the local COVID-19 situation improves.

BANGKOK – The consumer confidence index dropped to its lowest level in nine months in January due to the second wave of COVID-19 in the country, according to the University of the Thai Chamber of Commerce.



Announcing the decline in consumers’ confidence, UTCC president Thanavath Phonvichai said the latest index was based on the university’s opinion survey on 2,234 people nationwide.

Consumers would drastically cut their spending in the first quarter and the early period of the second quarter of this year and the condition would continue until the local COVID-19 situation improves, he said.



The university would follow up the effects of COVID-19 control efforts and new economic stimulus measures expected in the first half of this year as well as the local political situation after the upcoming censure debate. The factors would have impacts on consumers’ confidence, Mr Thanavath said. (TNA)





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