Thailand’s Consumer Confidence Declines for the First Time in 5 Months

Consumer confidence in Thailand fell in January for the first time in 5 months.

The Thai Chamber of Commerce’s Center for Economic and Business Forecasting found that the consumer confidence index fell to 44.8 in January 2022 from 46.2 in December, the first decline in five months.

The general economic confidence index was 38.7, the employment outlook index was 41.4, and the future income index was 54.4.

Negative factors that caused the consumer confidence index to fall in January were mainly due to concerns about the Omicron variant affecting lifestyles, the economy, and tourism.

In addition, the cost of living is a concern as product prices are still high and domestic oil prices are rising. Concerns about political stability and the political situation in the country are also contributing factors. In addition, the Thai baht is strengthening again, which is not a good sign for exports and tourism.

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