Thai Consumer Sentiment Up for 3-Straight Month due to Lockdowns Easing and Gov’t Relief

The University of the Thai Chamber revealed that Consumer Confidence Index (CCI) in July 2020 has risen to 50.1 from 49.2 a month earlier, representing an increase for 3-straight month and was the highest reading since March, due to lockdowns easing, while the Overall Economic Confidence Index rose to 42.6 from 41.4 in June.

 

Consumer sentiment rose due to several factors, including the reopening of businesses and activities that were suspended to contain the spread of Covid-19 pandemic, government relief measures to alleviate the impact of outbreak, domestic oil price remained unchanged.

 

UTCC further stated that the CCI was pressured by the concern about coronavirus spreading, political instability, State of Emergency extension, agricultural production declined, an adjustment of GDP to contract by 8.5% and trade war tension