FRIDAY, March 29, 2024
nationthailand

CPI at 16-month low

CPI at 16-month low

Thai consumer confidence plunged to a 16-month low in September due to slow economic recovery pace, according to the University of Thai Chamber of Commerce survey.

Confidence in travel, investment and purchasing power hit a 123-month low in the month.
Yet, consumers are more positive of the economic outlook in the next three months thanks to the government's economic stimulus package.
“Thai consumer confidence remains weak but people are optimistic in future growth following the stimulus package. The fall in the confidence could bottom out and the confidence may recover in the fourth quarter of this year," said Thanavath Phonvichai, director to the UTCC’s Economic and Business Forecasting Centre.
Pulling down the confidence in September was a mixture of bad news: the Bank of Thailand's decision to revise down 2015 economic growth projection, the global economic condition which hurt Thailand's exports, persistently low agricultural product prices, a slight increase in domestic oil prices, a plunge in the stock market, baht depreciation and an increase in the cost of living. 
 
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