BANGKOK, Jan 10 (TNA) – Thailand’s consumer confidence
index continued to plunge to a 68-month low in December 2019 but there are signs of
economic recovery thanks to government’s stimulus measures, the University of
the Thai Chamber of Commerce (UTCC) says.
UTCC’s Vice President Thanavath Pholvichai announced on
Friday the latest survey that shows the consumer confidence index in December
dropped to the lowest since May 2014 at 68.3 points, down from 69.1 in
November.
Thanavath said the consumer sentiment decline was due to
worries about the economy and political stability.
However, he said the UTTC believed government stimulus
measures were gradually bearing fruits while farm product prices had
improved.
These trends would lead to positive sentiment in the second
half of the year, said Thanavath.
The lingering concerns over the US-China trade war might be
settled by the end of January while higher prices for fuel and consumer goods
and the rising cost of living continued to weigh in.
The UTTC planned to announce its revised GDP growth forecast
on Monday, after previously predicted a 3.1 percent growth, he said. (TNA)
