Thai consumer confidence index worst in 26 months

[webfact]

Thai consumer confidence index worst in 26 months
By Digital Content



BANGKOK, Feb 7 – The Thai consumer confidence index (CCI) has plummeted for the last 10 consecutive months to its lowest in 26 months at 61.4, according to the University of Thai Chamber of Commerce (UTCC).

UTCC Rector Saowanee Thairungroj said the latest survey showed the country’s worst index since December 2011 given concerns about the political stalemate, economic slowdown and uncertainty in global economic restoration which could negatively impact Thailand’s economic recovery and consumers’ income.

The overall January CCI at 61.4 dropped from 63.2 in December, reflecting consumers’ lack of confidence towards the economy, she said, adding that the economy-related index also declined from 55.4 in December to 53.8 in January – the lowest in 23 months from March 2012.

On employment opportunities the index was 65.1 in January, dropping from 66.7 in December, and lowest in 25 months from January 2012.

Ms Saowanee predicted further CCI decline until the second quarter of the year given lack of signal on economic recovery, indicating that the economy should strengthen when the political situation improves but the timing was unclear, while global economy remained volatile.

The Thai people’s happiness index dropped to 67.6 in January, the lowest in 93 months since May 2006 due to concerns about the political situation and economic slowdown which have impacted people’s future income and way of life.

The survey found that nearly two-thirds -- 59.1 per cent -- of the Thai people lacked confidence in political stability, and predicted negative situation as well as ongoing problems in the next three months. (MCOT online news)


-- TNA 2014-02-07

[jaltsc]

"The survey found that nearly two-thirds -- 59.1 per cent -- of the Thai people lacked confidence in political stability, and predicted negative situation as well as ongoing problems in the next three months."

I wonder where the other 41% have their heads

[retsdon]

"The survey found that nearly two-thirds -- 59.1 per cent -- of the Thai people lacked confidence in political stability, and predicted negative situation as well as ongoing problems in the next three months."

I wonder where the other 41% have their heads

Probably for a lot of people out in the country who just get up and go to work every day and wash the car on weekends the political shenanigans are practically irrelevant. So they don't see any clouds on the horizon. And three months is a pretty short time frame.

My own opinion is that the Thai ship of state is pretty large, so even if the steering goes or the engines lose power, momentum will keep it moving forward for longer than most people expect. Eventually though a rudderless and powerless ship will get into difficulties. That's just how it works.

[tomross46]

Is this an indicator than the consumer confidence had declined because of the activities of the Shinawatra government. Numerous promises were made by this government to get elected, and than it all went to hell in a hand basket. First Car, First Home, Tablets, Credit Cards for Taxi Drivers, and than we have all the pledging for agricultural projects, which appear to be all failures. The only people that profited from these activities were politicians and their cronies.

[Jeremy50]

Thais, like many other people in the world should learn the first rule of personal finance.

If you ain't got the money don't buy it.

[Notable]

It would be interesting to see what the average Thai pays out in terms of credit payments. You see plenty of new trucks about being driven by people who can't be on much more than 10 or 15k a month. I know it's a similar situation in Europe and the U.S, but I can't help feeling that given the price of vehicles Thais are paying out a much higher percentage of their income.

[robblok]

It would be interesting to see what the average Thai pays out in terms of credit payments. You see plenty of new trucks about being driven by people who can't be on much more than 10 or 15k a month. I know it's a similar situation in Europe and the U.S, but I can't help feeling that given the price of vehicles Thais are paying out a much higher percentage of their income.

They are.. but they save a lot on housing. The shacks they sometimes live in is amazing.