Thailand’s University of the Thai Chamber of Commerce (UTCC) reported on Thursday that the consumer confidence index fell to 40.9 in July from 43.1 in June, 44.7 in May, 46 in April, 48.5 in March, 49.4 in February and 47.8 in January.
Reporting consumer and business sentiment continued to plunge because of the rising Covid-19 infections and deaths, the poor economic outlook and the Thai Governments failure to procure sufficient vaccines for its citizens.
UTCC president Thanavath Phonvichai told the Bangkok Post that there is also much uncertainty over the government’s vaccine distribution plan, while political instability and anti-government rallies are gathering pace and oil prices are rising.”
People are really worried about the country’s overall economic prospects. The Fiscal Policy Office downgraded its 2021 growth forecast for Thailand to 1.3%, a dip…
