BANGKOK, April 9 (TNA) – Thailand’s consumers’ confidence
in March dropped to the lowest points in more than 21 years due to the impacts
of the Covid-19 pandemic, says the University of the Thai Chamber of Commerce
(UTCC).
UTCC president Thanavath Phonvichai told a briefing on
Thursday that a university survey showed the consumer confidence index plunged
to 50.3 in March, down from 64.8 in February.
The index is the lowest reading in 21 and a half year or
since the survey began in October 1998 during the Asian financial crisis.
Economic loss from the Covid-19 in the first half of 2020
could reach THB1-1.5 trillion as it impacted spending, tourism and economic
activities, he said.
With the lockdown measures, at least THB5 billion worth of
consumer spending vanished each day, he said.
Thailand’s tourism industry would lose at least THB600
billion in revenue in the first half of this year, said Thanavath.
He predicted the Thai economy to shrink 4-6 percent this
year while hoping for positive results of the government’s THB1.9-trillion
relief package. (TNA)
