Thai consumer sentiment at 25-month low in June
text size

Thai consumer sentiment at 25-month low in June

Workers dry shrimp to make shrimp paste in Khlong Yai district of Trat province on Wednesday. (Photo by Jakkrit Waewkraihong)
Workers dry shrimp to make shrimp paste in Khlong Yai district of Trat province on Wednesday. (Photo by Jakkrit Waewkraihong)

Thai consumer confidence dropped for a sixth straight month in June, a university survey showed on Thursday, due to worries about the impact of Britain's decision to leave the European Union on the domestic and global economy.

Consumers were still concerned about low commodity prices and felt the country's economic recovery was slow, the University of the Thai Chamber of Commerce said. 

Overall Consumer Confidence Index reflects views on the economy, job opportunities and future income. The survey is usually done in the last week of the month.

The index stood at 71.6 points in June, compared with 72.6 in May, 72.7 in April, 73.5 in March, 74.7 in February and 75.5 in January.

The June index was the lowest since May 2014, the month the military seized power to end prolonged political unrest. 

The junta has since struggled to revive Southeast Asia's second-largest economy as pivotal exports and domestic demand have remained sluggish at a time household debt levels are high. 

The economy grew 0.9% in January-March from the previous quarter and 3.2% from a year earlier. The Bank of Thailand has forecast economic growth of 3.1% this year but predicts exports will contract 2.5%. The economy expanded 2.8% last year.

Do you like the content of this article?
COMMENT (1)