New outbreak seen shaving B60bn off spending

Consumer spending may drop up to 100 billion baht if a new coronavirus outbreak lasts for two months, possibly sinking the economy in the current quarter, a commerce university said on Thursday.

Consumer confidence fell back to 48.5 in March after a rise to 49.4 in the previous month, according to a survey by the consumer index of the University of the Thai Chamber of Commerce.

A total of 405 new Covid-19 infections were reported on Thursday, as the country deals with a new wave of infections and the presence of a highly transmissible variant first identified in Britain.

“Sentiment is expected to drop for at least three months before picking up if the Covid situation eases quickly,” university president Thanavath…