Thai consumers will hold off on spending this quarter: UTCC
Thailand’s Consumer Confidence Index has dropped from 50.1 points in December to 47.8, the lowest in nine months, due to the second round of Covid-19 infections, the University of the Thai Chamber of Commerce (UTCC)'s Centre for Economic and Business Forecasting announced on Thursday.
UTCC president Thanavat Phonvichai said consumers will spend less money until the beginning of this year’s second quarter as they wait for the crisis to ease.
However, he said, the government’s three stimulus schemes – Khon La Khrueng” (Let's Go Halves), “Rao Chana” (We Win), and “Rao Rak Kan” (We Love Each Other) – should help generate more than Bt300 billion and create up to 900,000 jobs.
He added that the gross domestic product should grow 3.4 per cent if tourists start returning to the country in the fourth quarter.
