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Drop in consumer confidence in June
THE NATION

BANGKOK: -- THAILAND'S CONSUMER Confidence Index remained low in June, reflecting consumers' continued lack of confidence in the economy, according to the Commerce Ministry's Trade Policy and Strategy Office.

Ministry spokeswoman Duangkamol Jiambutr said the index for June stayed at 38.9 - the same figure as the previous month.

Kasikorn Research Centre's household Economic Condition Index (KR-ECI) in June hit a record 11-month low of 43.8 compared with 45 in May. The 30-month expectation index dipped to its lowest level in 13 months at 45.2.

Readings below 50 mean most households believe their living costs will increase.

The Commerce Ministry's overall three-month-expectation sub-index inched up to 43.2 in June from 43.1 the previous month. Although this suggested a slight increase in confidence, it stayed below the 50 threshold that separates pessimism from optimism.

Readings below 50 in the sentiment index suggest consumer pessimism over the economy and the widespread need for government assistance to meet living costs.

The current indices indicate that the government needs to stimulate the economy through spending, boost tourism, accelerate state-budget disbursements, give financial assistance to communities for job creation, and develop the agricultural-product economy, Duangkamol said.

The future-expectation figures indicate that people are slightly more confident, as more state funds have been pumped into the system and there has been a rise in car production, she noted.

However, she said there was still not much public investment, prompting people to be concerned over their cost of living, the economic slowdown and the drought that has affected farming incomes.

On a regional basis, the Consumer Confidence Index for the Central region edged up to 41.1 from 39.3 in June, while the index for the North rose to 41.2 from 40.2, the Eastern index went up to 30.1 from 30.0 and the Southern index increased to 30.2 from 29.6.

However, the index for the Northeast dipped to 41.9 from 43.5 and the index for Bangkok and its vicinities fell to 41.6 from 42.4.

KResearch said Thailand's second-quarter economic indicators suggested a fragile, slow economic recovery and bearish household consumption.

It said many households were cautious not to spend too much, given the purchasing-power problems and not-yet-recovered income, while agricultural-sector households were expected to face more pressure from droughts that might last several months.

Private consumption is expected to see a slow recovery with an estimated expansion of 1.7 per cent this year. The earlier estimate was a 2-per-cent rise.

Both the current and future KR-ECI have fallen for five consecutive months, indicating that high living costs continued to be a constraint on spending and were expected to remain that way for several months despite low inflation and the low cost of new borrowing.

In the coming three months, households with both regular and non-regular income will likely have more concerns over their living costs, including product prices, income, savings and expense and debt burdens, KResearch said.

Source: http://www.nationmultimedia.com/business/Drop-in-consumer-confidence-in-June-30264368.html


-- The Nation 2015-07-14

[bangkokfrog]

This is exactly what I keep hearing in the streets. But the government still seem to continue to get impressive approval ratings in other surveys. Could it be that the majority of people here like having to scrimp and save and see little positive in their future?

[fred Kubasa]

This is close to believable, as most govt. statistics are not but I would venture a

guess that 34.6 is closer to reality which means lower middle class are being affected !

[Srikcir]

"she said there was still not much public investment, prompting people to be concerned over their cost of living, the economic slowdown and the drought that has affected farming incomes."

And Deputy Prime Minister M.R. Pridiyathorn Devakula's answer just recently on saving the economy:

"Implementation of economic stimulation programme under the current situation when the world is experiencing economic slump which has the tendency to drag on for 2-3 years will not work and will be a waste of budget." 2015-07-12

So good luck to the little people. We can't all be masters ministers.

Edited July 14, 2015 by Srikcir

[h90]

This is exactly what I keep hearing in the streets. But the government still seem to continue to get impressive approval ratings in other surveys. Could it be that the majority of people here like having to scrimp and save and see little positive in their future?

Well global the economic isn't good: not this governments fault

Yingluck burned a lot of money, money that is now missing

So it isn't the governments fault, on the other hand I can't see the hundreds of actions from the government to make business easier.

Actually I can't see any government actions.....

[Cake Monster]

The only reason that consumer confidence is so low, is that the Government have slowly started to stop all the " Vote buying schemes ", where the people in the streets were given money for nothing.

People now have to wake up to the fact that life is not just a massive hand out, and that they actually have to be productive with their lives, and earn money for themselves.