BANGKOK, June 6 (TNA) – Thailand’s consumers’ confidence
slumped to a 19-month low in May amid concerns over political uncertainty and
slow recovery.
Thanawat Pholvichai, director of the Economic and Business
Forecast Center at the University of Thai Chambers of Commerce (UTCC), revealed
the Consumer Confidence Index (CCI) of May that dropped to 77.7, the lowest
since November 2017.
Worries over ongoing political and economic issues weighed
in on consumer sentiment, causing sluggish spending, he said.
The Wednesday’s parliamentary vote to select Prayut
Chan-o-cha as the next prime minister could nevertheless restore confidence in
political development as a new Cabinet could be installed in July, he said.
Economic ministerial posts were likely be filled by the same
group to keep on key policies and development projects.
“It should bring more optimistic views among consumers,”
Thanawat said.
In the latter half of 2019, he expected more stimulus
measures by the government and propel annual growth to at least 3.5 percent.(TNA)
