First decline in confidence index in 6 mths
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Thai consumer confidence dropped in May for the first time in 6 months due mainly to rising political instability, according to a poll.
Instability driven by conflicts in the reconciliation plans is a major attribution to the fall, said Thanavath Phonvichai, director of the Economic and Business Forecasting Centre of University of Thai Chamber of Commerce.
The poll shows that in the month, the confidence level fell from 77.6 points in April to 77.1 points in May. The drop was slight, but it marked the first time since December.
Thanavath said that consumer confidence is vulnerable to political instability. The increasing tension could further take toll on the confidence in the coming months, he added.
