Consumer confidence dips to nine month low

Thailand’s consumer confidence index fell to a nine month low at 47.8 points in January, dragged down by the worsening outbreak situation, the forecasters at the Thai Chamber of Commerce said on Thursday.

The index continued to decrease from 50.1 points in December, the beginning of the second wave of Covid-19 infections, through to January, according to the Center for Economic and Business Forecasting Unit at the University of the Thai Chamber of Commerce (UTCC).

Economic sentiment dropped to 41.6 in January from 43.5 points in the previous month, job-opportunities sentiment to 45.1 points from 47.5, and future-income sentiment to 56.8 points from 59.2.

The UTCC said that the latest Covid-19 outbreak, which has affected the economy across all sectors, and coupled with lowered economic growth projection from the Finance ministry, has resulted in the lowered sentiment.

Domestic retail oil prices and the strengthening of baht has added to the lowered sentiment, the forecasters said.


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