Thailand’s consumer confidence sinks to 11-month low in July

BANGKOK, Aug. 6 (Xinhua) — Thailand’s consumer confidence fell for the fifth straight month in July, marking the lowest level in 11 months, due to mounting concerns over political uncertainty and slowing economic recovery, a survey showed on Tuesday.
According to the survey of 2,244 respondents conducted by the University of the Thai Chamber of Commerce, the consumer confidence index sank to 57.7 last month from 58.9 in June as all components of the index decreased.
Consumers continued to worry about high living costs amid lagging economic growth, partially owing to delays in the government’s budget disbursement coupled with political uncertainty stemming from looming court verdicts involving the dissolution of the main opposition party and the dismissal of Prime Minister Srettha Thavisin, said university head Thanavath Phonvichai.
However, the government’s digital wallet stimulus program, planned to roll out in the final quarter of this year, is expected to give an immediate push to the economy through boosted private consumption, Thanavath told a news conference. ■