June’s Consumer Confidence Index lowest in 21 months

tewit kemtong

 

 

BANGKOK, 06 July 2019 (NNT) - The University of the Thai Chamber of Commerce Center of Economics and Business Forecasting predicts that the Consumer Confidence Index, which has dropped in the first half of this year, will pick up given the economic stimulus measures of the new government and the upward trend in farm goods prices.

 

The Consumer Confidence Index in June has dropped to 50.5, marking a decline for the fourth consecutive month and the lowest in 21 months. That is attributed to consumer concerns over the political situation and uncertainties over the world’s economic recovery, while many farm goods have remained at low prices and consumer have exercised caution in spending.

 

Thanawat Pholawichai, director of the Center for Economics and Business Forecasting, said the Consumer Confidence Index was forecast to pick up in the second half of this year due to economic stimulus measures, including the use of state welfare cards, tourism promotion campaigns and government investment projects. The prices of rubber and oil palm are expected to increase and the country’s economic growth is expected to rise 3.5%.

 

-- © Copyright nnt 2019-07-07

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Good luck with that prediction.  As long as BoT keeps tantalizingly high interest rates—foreign inflows (in USD, from China, the country with $1.2 trillion) will continue to flood in.  And Thailand has an oversupply of USD as a result.  Oh yes, and Thai exports and tourism shall diminish...

Talk is so,so cheap !

 

Idiom: "I'm from Missouri, Don't tell me, show me".

Edited July 7, 20197 yr by neeray
punctuation

6 hours ago, rooster59 said:

tourism promotion campaigns and government investment projects

You can promote tourism all you like, but with the high baht I fear that's wasted money

10 hours ago, rooster59 said:

the country’s economic growth is expected to rise 3.5%

Kungthai Bank’s Global Business Development and Strategy Group just cut its forecast to 3.3%.

Same for Krungthai Macro Research.

Same for senior Bank of Thailand official Don Nakornthab.

So expect something actually LOWER than 3.3%!

" Consumers have exercised caution in spending"

Translation - Peoples Credit Card limits are being cut and many are maxed out .

Am I correct in thinking that any figure on the CCI Index  is under 50.0, is tantamount to a recession ?, 3 in a row, or is it something else to do with that figure.

I,m getting Old