Consumer confidence sags for fifth consecutive month

By THE NATION

 

Thanawat Polvichai, director of the Centre for Economic and Business Forecasting at UTCC

 

The consumer confidence index in July slumped to its lowest level in 22 months, the University of Thai Chamber of Commerce (UTCC) revealed on Thursday (August 8).

 

Consumer confidence has dropped continuously for five months due to several negative factors, including the trade dispute between the US and China and high concerns about the local political situation.

 

Thanawat Polvichai, director of the Centre for Economic and Business Forecasting at UTCC, said that the index in July stood at 75.0, down for the fifth consecutive month, and was the lowest in 22 months since October 2017. The consumer confidence index to the economy dropped continuously for five months and was the lowest in 214 months, or 17 years and 10 months, while the consumer confidence index to the political situation declined continuously for five months and was the lowest in 63 months since 2014.

 

He said that the key factors affecting the decline in the consumer confidence were the slow rebound of the economy, the trade dispute between the US and China, local political situation, the lower prices of agricultural products, concerns of drought, and the recent blasts in Bangkok.

 

"The index dropped for all items, reflecting the fact that the overall economy is still not rebounding, making people cautious in how they spend money.”

 

He said this was witnessed in all the quarters this year. The new government should have a concrete plan to stimulate the economy, as well as relax its monetary and fiscal policies, looking after people's cost of living and take care of the baht," said Thanawat.

 

Source: https://www.nationthailand.com/business/30374485

 

-- © Copyright The Nation Thailand 2019-08-08

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When will the Government realise everything in Thailand is not all smiles and happiness,

people have problems.

regards worgeordie

Why worry about people's problems when you don't have to rely on votes from those people to be in government. 

24 minutes ago, webfact said:

The new government should have a concrete plan to stimulate the economy,

The only thing this government has a concrete plan for is stimulating their snouts in the trough!

21 minutes ago, worgeordie said:

When will the Government realise everything in Thailand is not all smiles and happiness,

people have problems.

regards worgeordie

Those in government don't have any problems while they are filling their offshore accounts and don't give two hoots about the people and their problems or the economies problems or even Thailand's problems as the only thing they're interested in realising is that when they get kicked out their accounts are full to overflowing.

Smoke more weed !

25 minutes ago, mok199 said:

Smoke more weed !

Sounds like Bill and Ben desperately trying to issue an instruction.

(Sorry, you'll have to be an old Brit crumbly to understand that one)

21 minutes ago, bluesofa said:

Sounds like Bill and Ben desperately trying to issue an instruction.

(Sorry, you'll have to be an old Brit crumbly to understand that one)

Got caned for pronunciation of the word weeeed they did .. T'was considered not to he helpful when teaching kids to speak reet proper Engrish .. There was a remake early 2000's called Bill and Ben but by then the Innuendo's about potting in the shed and uphill gardening were getting too much to damp down so it died off .. 

2 hours ago, webfact said:

Consumer confidence sags for fifth consecutive month

Time for a TiT job then ..

2 hours ago, Justgrazing said:

Time for a TiT job then ..

Don't be rude

1 minute ago, White Christmas13 said:

2 hours ago, Justgrazing said:

Time for a TiT job then ..

Don't be rude

Ooh, no matron.

If someone asked my Thai wife about this—she’d fault the high Baht.  She has markedly fewer Baht now to run our house.  Enough to get by—but we do cut back on some things...

On 8/8/2019 at 2:44 PM, webfact said:

the key factors affecting the decline in the consumer confidence were the slow rebound of the economy, the trade dispute between the US and China, local political situation, the lower prices of agricultural products, concerns of drought, and the recent blasts in Bangkok.

Of the six cited factors, four (slow rebound of the economy, local political situation, the lower prices of agricultural products, concerns of drought) belong to Prayut. While he may be satisfied with his economic policies as evidenced with staffing his new Cabinet with the same policymakers from his previous regime and pro-military supporters, I'm sure the Thai people and their Parliament House representatives are not.

Time to use Thailand's foreign reserves to pay down some of his government debt, cutback on unnecessary military acquisitions, unproductive government and military (ie., rainmaking) programs and pay raises for the military and civil services. Among the many other remedies needed.

Rather than being the Hub of ASEAN, Thailand needs to be the Hub of the Thai People.

And the beat goes on as Sonny and Cher used to sing about. Consumer confidence going down the toilet every month, default on loans rising, export declining, rice crops ruined, tourism declining and of course the artificial strength of the almighty Baht have put Thailand right in the cross hairs of a major economic downturn. It's not a question of if anymore but when.

Sent from my CMR-AL19 using Thailand Forum - Thaivisa mobile app

As a general note to the world: the media should start putting a positive spin on slowdowns seeing as curbing economic growth is the only way forward in the long-term. We need to get used to gradual deceleration.

Look at the language in the OP: "slumped... lowest... dropped... negative factors... down... decline... " as if deliberately trying to make you feel as bad as possible about it. With a different (more reasoned, longer-term) perspective, other words could be used that highlight the positive effects, and by positive effects I mean things of deeper meaning than crass commercialism and instant gratification to which society has become addicted.

 

Alright, carry on with the growth obsession and see you on the cliff-edge.

6 hours ago, JamesBlond said:

Alright, carry on with the growth obsession and see you on the cliff-edge.

It's because of the multi-generational ponzi schemes governments are running. They can't stop it or they'd just be voted out. So hitting the wall at full speed is inevitable.

So why are all the expats so concerned, the sooner the crash hits and the exchange rate gets back to reality, all the better - - or will there still be people complaining. 

8 hours ago, JamesBlond said:

As a general note to the world: the media should start putting a positive spin on slowdowns seeing as curbing economic growth is the only way forward in the long-term. We need to get used to gradual deceleration.

Look at the language in the OP: "slumped... lowest... dropped... negative factors... down... decline... " as if deliberately trying to make you feel as bad as possible about it. With a different (more reasoned, longer-term) perspective, other words could be used that highlight the positive effects, and by positive effects I mean things of deeper meaning than crass commercialism and instant gratification to which society has become addicted.

 

Alright, carry on with the growth obsession and see you on the cliff-edge.

Suggesting the media be anything other than sensational and alarmist is not how it works James. Didn't they teach you that at MI 5.