Consumer confidence plunges again
Spread of Omicron, higher costs of living and Ukraine all weigh on sentiment
Consumer sentiment dropped for the third straight month in March, hitting the lowest level in six months, as consumers remain concerned about the spread of the Omicron variant, higher costs of living and the impact of the Russia-Ukraine war.
The University of the Thai Chamber of Commerce (UTCC) reported yesterday the consumer confidence index fell to 42 in March from 43.3 in February and 44.8 in January. It stood at 46.2 in December, 44.9 in November, 43.9 in October and 41.4 in September.
An index lower than 100 points reflects weak purchasing power based on a slow economic recovery.
Thanavath Phonvichai, president of the UTCC, said consumers were less confident and more cautious about spending because…
