Thai consumer confidence drops to lowest in 8 months

Thai consumer confidence drops to lowest in 8 months

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Prime Minister Anutin Charnvirakul and Deputy Prime Minister and Commerce Minister Suphajee Suthumpun ride on a mobile grocery tricycle to launch the "Thais Help Thais" campaign inside a compound of the Government House in Bangkok on Tuesday. (Photo: Reuters)
Prime Minister Anutin Charnvirakul and Deputy Prime Minister and Commerce Minister Suphajee Suthumpun ride on a mobile grocery tricycle to launch the "Thais Help Thais" campaign inside a compound of the Government House in Bangkok on Tuesday. (Photo: Reuters)

Thailand's consumer confidence index dropped ​to 50.6 in ‌April from 51.8 in the previous month, a survey showed on Tuesday, the lowest in eight months and the second straight monthly decline.

Consumer ⁠confidence was hurt by high energy prices, the University of the Thai Chamber of Commerce (UTCC) said when releasing the survey results on Tuesday.

Fertiliser costs ​have been high while agricultural ​product prices have ‌been low, it added.

There ​was ⁠some positive sentiment emerging from ⁠stable politics and government measures to support living ⁠costs for vulnerable groups, ​the university said.

Confidence in the economy, jobs and future income all declined, according to a statement by the UTCC, which compiles the index.

Confidence remains below ​100, ‌with the slow economic recovery, high living costs and uncertainty over the US–Iran conflict likely ​to ⁠weigh on the near-term outlook.

The agriculture sector is clearly is not ⁠doing well, Thanavath Phonvichai, president of the university, said at a press conference.

Investments and consumption are slowing, he added, although tourist ⁠arrivals were picking up.

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