Thai Political Instability Affects Consumer Confidence Index

Thai Chamber of Commerce indicated that political instability has affected the consumer confidence index

The Thai Chamber of Commerce released a statement indicating that political situation and the increase of fuel prices have affected the consumer confidence index.

Mr. Thanawat Pholwichai (ธนวัฒน์ พลวิชัย), the Director of the Economic Forecast Center of the University of the Thai Chamber of Commerce said the consumer confidence index for March 2006 has dropped down for the three consecutive months, especially the confidence over the circumstances in the future.

He said such surveys have indicated that consumers are worried about the political situation and the increase of fuel prices.

He revealed that consumer confidence index over the income in the future the employment and the economy are at 94.9 percent, 78.2 percent and 77.9 percent which have reduced from February. Overall consumer confidence index has decreased from 85.1 percent of February to 83.7 percent in March.

Mr. Thanawat said majority of people view that instability political situation and the fuel prices are the main factors that have affected the consumer confidence index. It is expected that overall situation will be improved in the 3rd quarter of this year.

Source: Thai National News Bureau Public Relations Department - 11 April 2006