BANGKOK, July 2 (TNA) – Thai consumer confidence in June
continued to pick up but people are weary of a second wave of coronavirus
infection, according to the University of the Thai Chamber of Commerce (UTCC).
After the Consumer Confidence Index (CCI) improved for the
first time in over a year in May, the index rose further to 41.4 in June.
Advisor to UTCC’s Centre for Economic and Business
Forecasting Thanavath Pholvichai said the sentiment improved since the government
had begun to relax restrictions to cope with the pandemic.
Helped by government stimulus measures, consumers in the
survey showed their confidence in the economic outlook, he said.
Despite the upticks in the past two months, the index
remained low. Consumer spending would likely slow down for at least three to
six months until the outbreak situation significantly subsided and normal
economic activities resumed, Thanavath said.
The Centre predicted the Thai economy to shrink 8–10 percent
this year, he added. (TNA)
