BANGKOK, Dec 6 (TNA) — Economic and political concerns caused consumer confidence index to hit its lowest in 67 months, according to the University of the Thai Chamber of Commerce.
Preeda Phothong, UTCC’s deputy director for economic and business forecasting, said the index dropped for the ninth consecutive month to 69.1.
“Although the government is rolling out economic stimulus measures, consumers are worried about present and future political situations and also concerned about the slow recovery of the economy and people’s purchasing power. Uncertainties in the global economy regarding the trade war between China and the United States, Brexit and baht appreciation were also among consumers’ concerns,” he said.
UTCC vice president Thanavath Phonvichai said most operators did not see a sign of economic recovery amid slow inflation and the slight increase in employment which do not reflect any strong purchasing power of consumers.
However, he expected the national economy would grow by 3.1% and exports would expand by 1.8% next year.
The economy would start to gradually pick up in the latter period of the first quarter next year. The government would have its Budget Bill passed. Budgets would be disbursed in February. Regular budgets and investments would be spent and effectively relieve economic problems, Mr Thanavath said. (TNA)
