Confidence index at 26-month low as recovery slips away

Business confidence fell to a 26-month low in February as the outbreak sapped sentiment from any economic recovery and sparked concerns about the impact on people’s daily lives.

The Thai Chamber of Commerce confidence index, a gauge of nationwide business sentiment, dropped from 29.8 in January to 29.6 in February — the lowest level since January 2019, according to a University of the Thai Chamber of Commerce (UTCC) news briefing yesterday.

Sauwanee Thairungroj, an adviser to the UTCC council, said negative factors include concerns about lockdown measures imposed in high-risk areas, economic woes, political uncertainty, the trade deficit, rising oil prices and the stronger baht.

The country’s GDP contracted 6.1% last year, the worst annual performance in 22 years since the Asian financial crisis, she said.

According to Ms Sauwanee, all regions in the country saw…