Thai consumer confidence dips due to political instability and slow recovery

Reports today reveal that last month Thai consumer confidence dramatically dropped for the first time in 14 months. Evidence pointed towards the general unease of continuous political instability in the Kingdom of Thailand after the General Election took place in May, as well as a sluggishly recovering economy.

The survey, helmed by the esteemed University of the Thai Chamber of Commerce (UTCC), showcased a diminished consumer index for July, standing at 55.6 compared to June’s reading of 56.7.

The university highlighted the prevalent concerns amongst consumers with regard to the ambiguous situation surrounding the formation of a fresh government body. Stability was a major concern as well. Additionally, issues related to the high cost of living continue to burden the Thai people.

Thailand has continued to grapple with ambiguity post-election,…