Thai consumer confidence drops after five-month surge due to Omicron

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By Panithan Onthaworn

 

Thailand’s consumer confidence index fell for the first time in five months in January, pulled down by fears over the impact of the Omicron outbreak on the economy, the University of the Thai Chamber of Commerce (UTCC) said Thursday.

 

The index fell to 44.8 points in January, down from 46.2 points the prior month, Thanavath Phonvichai, UTCC’s president, told a briefing. 

 

As the government halted quarantine-free programme Test and Go during January to prevent the spread of the Omicron variant, consumers were worried about the adverse effects on the economy, especially the fragile tourism sector. 

 

Full story: https://www.thaienquirer.com/37403/thai-consumer-confidence-drops-after-five-month-surge-due-to-omicron/

 

-- © Copyright Thai Enquirer 2022-02-10

 

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[trainman34014]

I think it's probably a lot worse than what they are saying.   Don't need to be a Financial Whizzkid to work it out when every time we go into Malls more and more shops have moved out; even ones that have been there for a Decades or more plus many Food Vendors and smaller Outlets selling Clothes, Sunglasses, Toys, ETC.

 

In our nearest Mall all the Banks have moved out bar one and the last one closes end February.   Manager told us the rent is 100,000 Baht a month and they have virtually no customers left because all the other Business's have gone.

 

The overpricing of Pork and Chicken, Eggs and many Vegetables since the start of this year has made things a lot worse for the Local's; indeed, us too and even we have made cutbacks in our shopping.   Difference is our cutbacks means more money saved but large numbers of the Local's have nothing to save anyway and just scrape by on next to nothing.   No good people saying prices of some things are slowly coming down; the damage is done and more jobs are being lost, many of which will never be restored.

[ozzydon]

confidence down infation up but the baht still resisting change surely something has to give

[dj230]

I am seeing signs of companies losing money/struggling, really curious how the real estate market is like in Thailand, I am not following but I wonder if something similar to China is happening here. 

[itsari]

2 hours ago, ozzydon said:

confidence down infation up but the baht still resisting change surely something has to give

The baht is not resisting the desire to increase in value . The only bonus from that is the oil price increase will be less demanding . But the exports will suffer . Not an easy game 

[Isaan sailor]

And misery loves company.  Baht vaults up, just when it looks like it should go down.

[spidermike007]

The economy here is decimated. Homelessness, suicides, and unemployment are skyrocketing. Tourism has died. The real estate market is weak. New car sales are down dramatically. Even domestic tourism is way down. The only thing that is up, is inflation. And this administration has failed the people by any measurable level. 

 

Is there any wonder that consumer confidence is down?