Consumer Confidence in April Falls to a Historical Level amid Covid-19 Pandemic Worries

The Center for Economic and Business Forecasting, University of the Thai Chamber of Commerce revealed Thailand consumer confidence in April fell to 47.2 from 50.3 in March, the lowest level since the survey began in October of 1998, while consumer confidence economic sub-index plunged to 39.2 compared to 41.6 in the previous month.

 

Employment confidence dropped from 49.3 to 46 and future income index as well decreased to 56.4 in April from 59.9 in March.

 

The mainly factors that affect on consumer confidence in April comprised of the worrisome over coronavirus pandemic and its impact on the economy; tourism and services industries, the Emergency Decree and drought.

 

After the government introduced the Emergency Decree to combat the coronavirus, new regulations requested some places to shut down such as department stores, marketplaces, etc, lifting unemployment and businesses close down. Moreover, the Centre for Covid-19 Situation Administration (CCSA) decided to extend the Emergency Decree for another month (till May 31, 2020)