Sentiment continues to see decline
Consumer and business sentiment continued to plunge in July based on rising Covid-19 infections and deaths, as well as a poor economic outlook.
The University of the Thai Chamber of Commerce (UTCC) reported on Thursday the consumer confidence index fell to 40.9 in July from 43.1 in June, 44.7 in May, 46 in April, 48.5 in March, 49.4 in February and 47.8 in January.
“Consumer confidence slumped in July to the lowest level since October 1998, as people are worried about a fourth wave of Covid-19 infections in the country and the new, more contagious Delta variant,” said UTCC president Thanavath Phonvichai. “There is also much uncertainty over the government’s vaccine distribution plan, while political instability and anti-government rallies are gathering pace and oil prices are rising.”
Phusadee Arunmas
