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Consumer Confidence Index wanes amid Covid crisis


The overall Consumer Confidence Index (CCI) in July shrank to 36.7 from 42.7 in June in response to the worsening Covid-19 situation, according to a survey by the Commerce Ministry’s Trade Policy and Strategy Office (TPSO).

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“The increasing number of new infections as well as the government’s move in placing 29 provinces in the ‘dark red’ zone under maximum disease control measures, which include business lockdowns and nighttime curfew, has affected consumers’ confidence in the economy,” TPSO director Phusit Rattanakul said on Tuesday.

“The current CCI has gone down from 34.4 in June to 29.8 in July, while the future CCI also dropped from 48.1 to 41.3,” he said. “The southern region saw the biggest drop in CCI from a month before, or from 44.7 to 36.8. Besides the worsening Covid-19 situation, the region also suffered from plummeting prices of agricultural produce such as rubber, durian and mangosteen,” Phusit said.

The CCI in the northern region dropped from 41.1 to 34.7, in Bangkok and its perimeter from 41.6 to 35.8, in the Northeast from 44.2 to 38.7 and in Central region from 41.3 to 36.1.

When categorised by profession, the CCI among students saw the biggest drop, from 43.0 to 33.1, due to worry over finding a job after graduation as several businesses have cut down hiring amid the pandemic. Meanwhile, the CCI among business employees dropped from 41.9 to 35.2, state employees from 48.6 to 42.8, entrepreneurs from 41.9 to 36.3, agriculturists from 43.7 to 38.1 and freelancers from 39.7 to 34.2.

The group whose CCI remains at the lowest level is unemployed people. Their CCI dropped from 36.6 in June to 32.2 in July.

Published : August 11, 2021

By : THE NATION