Thailand’s ‘modern trade’ confidence at lowest point in 3 years due to pandemic

[webfact]

 

Thailand’s “modern trade” confidence index in the second quarter of this year hit the lowest point in the past three years, at 45.3, as retail businesses are being hit hard by the pandemic and government measures, according to a joint press conference by The University of the Thai Chamber of Commerce (UTCC) and the Board of Trade of Thailand yesterday (Monday).

 

Rector of the UTCC Dr. Thanawat Polvichai said that the index is predicted to continue to decline to 43.7, reflecting the concerns of modern trade operators that the business is tending to get worse and that the partial lockdown measures and curfew may be further extended by the government. He added that economic cost of the lockdown measures may soar to about 700 billion baht.

 

In the past seven months, retail businesses have lost an estimated at 270 billion baht and the pandemic has impacted more than 1.2 million small and medium-sized enterprises in the production chain of modern trade, which employs about 10 million people, according to Ms. Chalida Jansiripong, Corporate Relationship Director at the Central Group and a retail executive committee member at the Board of Trade of Thailand.

 

Full story: https://www.thaipbsworld.com/thailands-modern-trade-confidence-at-lowest-point-in-3-years-due-to-pandemic/

 

-- © Copyright Thai PBS 2021-08-10

 

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[pegman]

At the pathetic rate vaccines are being given in Thailand there will be a long road too travel befiore trade picks up again

[ukrules]

5 hours ago, webfact said:

Thailand’s “modern trade” confidence index in the second quarter of this year hit the lowest point in the past three years

Interesting, when people say something's at the lowest point and they give a time frame it usually means it was in fact lower before that time period.

 

Was this metric worse than it is now 4 years ago? Is there a chart?

Edited August 10, 2021 by ukrules

[hotchilli]

Covid had an affect for sure, but to be honest trade was slipping even before Covid came along for an excuse.

[Chongalulu]

2 hours ago, hotchilli said:

Covid had an affect for sure, but to be honest trade was slipping even before Covid came along for an excuse.

Growth had slowed certainly,which is not good for a developing country and was behind ASEAN growth as a comparative,although that is now a contraction.

[MrJ2U]

Modern trade?

 

Is this another Hub?

I've never heard that expression.

[MrJ2U]

4 hours ago, hotchilli said:

Covid had an affect for sure, but to be honest trade was slipping even before Covid came along for an excuse.

I think its also the quality of Thai goods.

 

Thai quality doesn't translate into repeat customers usually.