Consumer confidence lowest since May 2014

[snoop1130]

Consumer confidence lowest since May 2014

By THE NATION

 

 

The University of the Thai Chamber of Commerce’s Centre for Economic and Business Forecasting says consumer confidence has been declining for consecutive 11 months amid worries about the economy, drought and now the coronavirus.

 

Director Preeda Phothong said a survey of 2,247 people nationwide found that confidence in the economy had dropped from 56 points in December to 54.9 points by late January.

 

Confidence regarding job opportunities fell from 64.8 to 63.8 points in the same period, and in hopes for future income from 84.1 to 83 points.

 

The overall consumer confidence index currently stands at 67.3 points, down from 68.3. 

 

“That’s the lowest in 69 months, going back to May 2014,” Preeda said.

 

Primary concerns for the public at the moment are the coronavirus outbreak, the stalled budget for fiscal 2020, continued political instability and the economy’s future outlook.

 

“These concerns will make consumers cautious about spending until the second or third quarter of this year,” he said.

 

Thanawat Polwichai, the university’s rector and an adviser at the forecasting centre, expects the confidence index to drop further this month because of the economy’s failure to show signs of recovery and the rising cost of living.

 

The centre predicts that the tourism sector will lose Bt220 billion as the virus bars Chinese from travelling, but exports are seen expanding by 0.8 per cent, particularly in foodstuffs and sanitation products.

 

“The government should maintain the current interest rate because any reduction would cause liquidity problems in the future,” Thanawat said.

 

Source: https://www.nationthailand.com/news/30381701

 

-- © Copyright The Nation Thailand 2020-02-06

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[trainman34014]

Meanwhile people's shopping bills continue to rise !

[Sydebolle]

Maybe the consumers are a little angry about the three submarines from China? 

[spidermike007]

There are ample reasons for the lack of confidence in both the economy and the administration. The army is hapless and incompetent, beyond the reaches of the wildest imagination. It is never about hiring based on merit with them. They are a bottom of the barrel organization. When you consistently appoint based on cronyism, and nepotism, you get what you pay for. Gross incompetency. And a total lack of preparation for an emergency, such as the one the nation faces with the corona outbreak. Tourism was already decimated by years of ignorant policy, and xenophobia and racism on the part of immigration and the army, combined with the unwillingness or inability to deal with the problems that plague the nation. Such as the airpocalyse, the traffic hazards, public safety issues, visa policy, and so on. And now? This is what many would refer to as a perfect storm. 

 

Thailand may learn something from this episode. It is possible we may actually see some humility from immigration, instead of arrogance, and they might even begin to value tourists and ex-pats, for what they bring to the table here, economically. That is, if they are capable of reflection and learning. One tends to doubt that possibility. 

[Dcheech]

No surprise, it has been hiding in plain site for five and a half years. 

[Srikcir]

16 hours ago, snoop1130 said:

“That’s the lowest in 69 months, going back to May 2014,”

TRANSLATION:

Ever since the Prayut military coup and formation of the "elected" Prayut regime.

There's a history lesson here.

Too bad the Thai people have little freedom to learn and benefit from it.

[DannyCarlton]

17 hours ago, snoop1130 said:

“That’s the lowest in 69 months, going back to May 2014,” Preeda said.

Hmmm wonder what happened in May 2014?

[DannyCarlton]

1 hour ago, Sydebolle said:

Maybe the consumers are a little angry about the three submarines from China? 

Well at least that indicates that the government's consumer confidence hasn't been dented.

[BobbyL]

Coincides nicely with when this establishment began to take charge. 

 

I am staggered this one made it past the fake news agency.