Consumer spending is expected to decline by up to 50 billion baht a month as a result of the new outbreak of Covid-19 which also threatens to cause a further drop in the Consumer Confidence Index over the next three months, says the University of the Thai Chamber of Commerce (UTCC).
The longer the government takes to curb the transmissions, which also result from a new highly-contagious strain known as the UK variant, the more severe the impact will be on consumption, according to the UTCC.
“If the government takes 1-2 months to put the outbreak under control, spending will further decrease by 60-100 billion baht,” said UTCC…
