BANGKOK – Thailand’s consumer confidence index (CCI) has reached a five-month low due to falling prices of agricultural commodities, especially rubber, over the past few months.
Chancellor of the University of the Thai Chamber of Commerce Sauwanee Thairungroj revealed that the June CCI fell to 74.9 percent over concerns regarding the country’s economic recovery and global volatility. In addition, low oil prices have depressed agriculture commodities such as rice, cassava, rubber, corn feed, and palm oil.
Director of the University’s Center for Economic and Business Forecasting Dr. Thanavath Phonvichai assured that the slump in consumer confidence will be short lived, as the government has already put in place measures to assist falling agricultural prices. He believes the index will rebound in the second half of the year.