University of the Chamber of Commerce reveals COVID pulls consumer confidence index to lowest in 22 years and 7 months

University of the Chamber of Commerce reveals COVID pulls consumer confidence index to lowest in 22 years and 7 months

On May 6, 2021, Mr. Thanawat Phonwichai Athibakarn, University of the Thai Chamber of Commerce And Head of the Center for Economic and Business Forecasting The University of the Thai Chamber of Commerce revealed that the April consumer confidence index stood at 46.0, down from 48.5 in March, down to a record low in 22 years and 7 months. The overall economy was 40.3 from 42.5, the confidence index on job opportunities was 42.9 from 45.3, and the future income confidence index was 54.7 from 57.7.

Thanawat said The major negative factors are concerns about the spread of the COVID-19 virus. That still has an outbreak affecting people’s livelihoods. Business and economic conditions of the country in the future, especially in the tourism and services sector, the government issued more intensive epidemic control measures and integrated control measures classified by area under the Civil Service Commission. In emergency situations such as the closure of entertainment venues Control the opening and closing times of shopping malls / convenience stores Stores selling food or beverages, etc. Ready to ask for cooperation with the public to refrain from leaving the home at night, the Fiscal Policy Office (FPO) cuts the Thai economy forecast to grow 2.3% from the previous 2.8%

Thanawat said While positive factors include government sector taking measures to support economic expansion, consisting of “We Won”, “M33, We Love Each Other”, “We Travel Together” to stimulate purchasing power to improve all over the world. Country, exports in March. Increased 8.47%, resulting in an increase of 2.27% in the first three months of exports, and prices of many agricultural crops improved. Or stabilized at a good level Especially rice and rubber As a result, farmers began to earn higher income. As a result, purchasing power in other provinces began to improve.

“The consumer confidence index fell again amid concerns about the new coronavirus outbreak. It shows that consumers are still worried about the COVID situation in Thailand and in the world that it will affect the recovery of the Thai economy. As a result, consumers will be cautious about their shopping during this time. How severe And how will the government take measures to prevent and resolve the problem? Including there will be a Lockdown in various provinces How much When will it unfold? And how quickly will there be vaccinations This will affect consumer confidence and the recovery of the Thai economy in the future. And may result in the Thai economy expanding 0.0-1.5% this year, “Thanawat said.