Thai Consumer Confidence in June Gradually Improves after Gov’t Lifts Several Lockdowns

The Center for Economic and Business Forecasting, University of the Thai Chamber of Commerce revealed that the Consumer Confidence Index in June 2020 has risen to 49.2 from 48.2 in May, representing an increase for 2-straight month after the government began easing lockdowns. Meanwhile, the Overall Economic Confidence Index in June surged to 41.4 from 40.2 in May.

 

The uptick was supported by lockdowns relaxation, government stimulus and financial relief on Covid-19 impact and policy rate unchanged at 0.50%.

 

At the same time, there were negative factors from worrisome over Covid-19 outbreak, Bank of Thailand revised the GDP growth to further contract by 8.1% this year, along with the expansion of Emergency Decree until the end of July.