Domestic consumer confidence index down (Aug.)

Domestic consumer confidence index in Auguest fell for the first time following three

straight months of gains, due to impacts from the weak global economy and flooding in the North and Northeast.

The Consumer Confidence Index (CCI) edged down to 83.4 points in August from 84.1 points in the earlier month, according to a monthly survey by the University of the Thai Chamber of Commerce (UTCC).

The lower confidence was partly attributed to higher costs of living, unclear government policy for future growth, likely domestic economic slowdown, falls of the Stock Exchange of Thailand Index and higher interest rates.

UTCC's Economic and Forecasting Centre director Thanavath Phonvichai said that although the fuel prices were lower in the country, the consumer confidence remained very fragile on concerns over higher costs of living and global economic slowdown.

The Nation