Thai consumer confidence weakest in six months

[webfact]

Thai consumer confidence weakest in six months
By English News



BANGKOK, July 5 – Thailand’s Consumer Confidence Index (CCI) dropped for three consecutive months to 81.6 in June, its lowest in six months, according to a survey by the University of the Thai Chamber of Commerce (UTCC).

The university's Economic and Business Forecasting Centre reported today that the CCI index in June declined from 82.5 in May, while consumer confidence regarding the overall economy also tumbled from 72.8 in May to 71.8 in June.

Business and investment confidence declined in June due to a delay in the Bt350 billion water management project which has dashed investors’ hope of public spending at Bt60-70 billion to stimulate the local economy.

The Administrative Court has ordered the government to suspend the mega water project, pending environmental and health impact assessment and public hearings.

The global economic slowdown--especially in China, Europe and the US--has a negative impact on Thai exports, which declined by 5.2 per cent in June.

The phenomenon prompted several agencies to adjust their GDP growth projections, such as the Fiscal Policy Office, which has lowered this year’s growth forecast from 5.3 to 4.5 per cent, the centre indicated.

Despite a slower-paced inflation, consumers are spending less owing to higher prices of consumer products and heavier financial burden due to debt payment obligations. (MCOT online news)


-- TNA 2013-07-05

[Neilly]

The global economic slowdown--especially in China, Europe and the US--has a negative impact on Thai exports, which declined by 5.2 per cent in June.

Wonder why the dreaded rice word wasn't mentioned?

[jonclark]

The global economic slowdown--especially in China, Europe and the US--has a negative impact on Thai exports, which declined by 5.2 per cent in June.

Wonder why the dreaded rice word wasn't mentioned?

I think the final sentence " heavier financial burden due to debt payment obligations" are the dreaded words as opposed to rice.

Many people are now financially stuffed. "Buy now pay later", has been the mantra coming from Government house; stimulate the domestic economy based on increased consumption and ready access to credit ... well now is the proverbial later and people can't pay..... which could have serious long term ramifications.

Them loan sharks are starting to circle outside the doors of the poor.

Edited July 5, 2013 by jonclark

[rucus7]

Weak consumer confidence is difficult to spin into a positive light. However, I have faith that the current administration can do it. They may have to resort to using charts and graphs, That will help muddy the water. making everything clear as mud.

[drdoom6996]

To bad the debt payment part does not apply to politicians. Lets go get a couple of trillion and divide it up amongst our selves.

[starkey_rich]

The global economic slowdown--especially in China, Europe and the US--has a negative impact on Thai exports, which declined by 5.2 per cent in June.

Wonder why the dreaded rice word wasn't mentioned?

I think the final sentence " heavier financial burden due to debt payment obligations" are the dreaded words as opposed to rice.

Many people are now financially stuffed. "Buy now pay later", has been the mantra coming from Government house; stimulate the domestic economy based on increased consumption and ready access to credit ... well now is the proverbial later and people can't pay..... which could have serious long term ramifications.

Them loan sharks are starting to circle outside the doors of the poor.

Yes all those nice new shiny cars and trucks will be up for sale soon.

[Markaew]

Weak consumer confidence, in Thailand? Most Thais I see spend like there's no tomorrow!

[Payboy]

Time to roll out a first time yacht buyer scheme.

[Mudcrab]

Business and investment confidence declined in June due to a delay in the Bt350 billion water management project which has dashed investors’ hope of public spending at Bt60-70 billion to stimulate the local economy

Is this the new standard? Spend 350million ...of which only 60-70million gets into the economy? Hmmmmmmm

[Thai at Heart]

Business and investment confidence declined in June due to a delay in the Bt350 billion water management project which has dashed investors hope of public spending at Bt60-70 billion to stimulate the local economy

Is this the new standard? Spend 350million ...of which only 60-70million gets into the economy? Hmmmmmmm

Well that's great. Everyone is relying on borrowed money then.

[kimamey]

With the slow down in USA, Europe and China it's not surprising that exports have been hit. The slow down in China is in large part down to the situation in the USA and Europe. It's out of the control of the Thai government to a large extent. What is surprising and their responsibility is the statement a few months back that the situation in Europe would have little effect on the Thai economy.

[mjef]

Weak consumer confidence, in Thailand? Most Thais I see spend like there's no tomorrow!

They really do! I have a Thai friend he always says: Thai people are like this. If they have money they eat, if they have nitnoy they eat nitnoy! If they no have they work they receive money they eat!

So I guess they spend as much as they can! I was shocked when I went to BKK for the first time. Almost all people have the latest iPhone in their hands or at least one of the other high-ends! Looking at the statistics and all those low incomes, it seems strange!

[waza]

More economic indicators that show Thaksinomics is sending Thailand into a prolonged recession.

Edited July 5, 2013 by waza

[lungmi]

Remark from the contryside, may be outside topic:

In my poor village more and more people come on motocycle to sell the products of their home-garden.

I have a big choice, I buy all, mushrooms and some vegetables I use myself, the other products I give

to families in my neighborhood for free. The answer in old Thai-style: They give me back some good food

in a cooked way. Most I eat. For the rest my wife takes over.

Edited July 5, 2013 by lungmi

[mjef]

Remark from the contryside, may be outside topic:

In my poor village more and more people come on motocycle to sell the products of their home-garden.

I have a big choice, I buy all, mushrooms and some vegetables I use myself, the other products I give

to families in my neighborhood for free. The answer in old Thai-style: They give me back some good food

in a cooked way. Most I eat. For the rest my wife takes over.

That's awesome! Only if I could do this when I move to BKK...

[SICHONSTEVE]

So the fact that they are not going to waste all of that money affects

The global economic slowdown--especially in China, Europe and the US--has a negative impact on Thai exports, which declined by 5.2 per cent in June.

Wonder why the dreaded rice word wasn't mentioned?

I think the final sentence " heavier financial burden due to debt payment obligations" are the dreaded words as opposed to rice.

Many people are now financially stuffed. "Buy now pay later", has been the mantra coming from Government house; stimulate the domestic economy based on increased consumption and ready access to credit ... well now is the proverbial later and people can't pay..... which could have serious long term ramifications.

Them loan sharks are starting to circle outside the doors of the poor.

"Them loan sharks are starting to circle outside the doors of the poor".

Are those same poor going to be circling around Yingluck's or government house soon?, thinking about how stupid they were to entrust their vote to a complete novice impositioned as PM with the sole aim of getting her brother back to Thailand!!

[lungmi]

Remark from the contryside, may be outside topic:

In my poor village more and more people come on motocycle to sell the products of their home-garden.

I have a big choice, I buy all, mushrooms and some vegetables I use myself, the other products I give

to families in my neighborhood for free. The answer in old Thai-style: They give me back some good food

in a cooked way. Most I eat. For the rest my wife takes over.

That's awesome! Only if I could do this when I move to BKK...

Oh, I forgot, no need to go to BIG C etc. for food (except italian noodles, potatoes, rice bran oil and jasmine vinegar)

[PoodMaiDai]

That's how it works with credit cards, loans, government car programs, and every other possible enslavement method they can think of. Tie the people down, they spend less.

[i claudius]

I to am amazed ,when i see people who obviously earn little with the latest i phones and tablets,the chickens must come home to roost soon ,what will happen to the baht then?

[manxninja]

The baht will be strong for the considerable future, lots of dreamers think it will weaken.

[hellodolly]

Weak consumer confidence, in Thailand? Most Thais I see spend like there's no tomorrow!

Leave my wife out of this.

[OzMick]

The baht will be strong for the considerable future, lots of dreamers think it will weaken.

Your statement would have much more credibility if prefaced with "IMHO", or backed with supporting evidence and links, IMHO.

[marell]

Weak consumer confidence? Obviously there aren't enough places to spend money. A few hundred more luxury shopping malls should get this fixed up in no time.

Edited July 6, 2013 by marell

[Ricardo]

Consumer confidence weak, but the property-boom just keeps rolling-along, "bubble, what bubble ?" !

[Thai at Heart]

Consumer confidence weak, but the property-boom just keeps rolling-along, "bubble, what bubble ?" !

Well, those that will be sold, have largely been sold and now the payments start.

What will come of the unsold stuff is pretty obvious. A string is only so long.