BANGKOK, July 9 — Thailand's consumer confidence declined for a fifth consecutive month in June, hitting the lowest rate in 28 months, due to concerns over ongoing political uncertainty and global trade tensions, a survey showed today, reported Xinhua.
According to the survey of 2,244 respondents conducted by the University of the Thai Chamber of Commerce, the consumer confidence index fell to 52.7 last month from 54.2 in May as all components of the index decreased.
In a statement, the university said the drop was mainly attributed to concerns about political stability following a leaked phone call on border issues between Thai and Cambodian leaders.
Its president Thanavath Phonvichai noted that consumers were also worried about a United States tariff-fuelled trade war and the rising cost of living, which did not align with their current income.
Speaking at a press conference, he said that from a consumer standpoint, the Thai economy showed no signs of recovery through the end of the year, and incomes could decline alongside worsening employment conditions.
Thanavath added that willingness to pay for durable goods, particularly housing and vehicles, along with travel, is expected to fall as consumers exercise caution with their spending.
— Bernama
