Thai consumer confidence is low

March 12, 2009
Thai consumer confidence low

BANGKOK - THAI consumer confidence fell to a seven-year low in February as shoppers tightened their purse strings, worried by dire economic news at home and abroad, researchers said on Thursday.

The consumer confidence index dropped to 74.0 points in February, down 1.2 points from a month earlier, the University of the Thai Chamber of Commerce said.

A score below 100 indicates pessimists outweigh optimists about the economy's prospects. The index has now been below 100 for 56 consecutive months.

'The index is the lowest... since February 2002,' said pollster Thanavath Phonvichai in a statement.

'The volatility of the Thai economy and the global economy, as well as the instability of Thai politics has continued to weaken confidence among Thai consumers,' he said.

The fall reverses the trend of the past two months when the consumer confidence index rose slightly following fiscal stimulus measures and a lull in domestic political turmoil.

Thailand's government is rolling out a 116.7 billion baht (S$5.05 billion) stimulus package aimed at boosting the economy, which was badly hit by last year's airport blockades and is suffering in the world financial crisis.

Economic ministers have also agreed to spend 1.9 trillion baht over four years, including foreign loans of up to two billion dollars from global financial institutions such as the World Bank.

Mr Thanavath said job security was a chief concern among those surveyed, with confidence in job prospects now and in the future falling to 66.5 from 67.7 in January, he said.

'The government should further stimulate the economy to help create employment. That will help restore confidence among consumers,' Mr Thanavath said.

The index is based on a survey of about 2,000 people nationwide. -- AFP

i wonder if they are spending less in 'fishbowls' and karaoki joints and soapys ? or will their spending hold up ?

cali4995 wrote:Isn't Abhisit in England at the moment? I saw him on the news meeting with the Brown guy
who is an absolute bear by the way? Big meaty hands he completely dwarfed the thai, I was
really taken aback. Either abhisit is a very slight man or brown is quite the large specimen?

cali4995 wrote:Isn't Abhisit in England at the moment?