Thailand’s Consumer Confidence Index fell in February to 43.3

The Center for Economic and Business Forecasting at the University of the Thai Chamber of Commerce showed that the consumer confidence index fell to 43.3 in February 2022 from 44.8 in January.

The general economic confidence index was 37.2, the employment outlook index was 40.0, and the future income index was 52.6.

Negative factors included concerns about the rapid spread of the Omicron strain in the country, concerns about the conflict between Russia and Ukraine, the increase in domestic retail oil prices, and consumer fears that the economy is still slowing down. There is also the issue of the higher cost of living due to high consumer prices, concerns about the political situation in the country, and the appreciation of the baht from January.

The Office of the National Economic and Social Development Board (NESDB) announced that the GDP growth rate in Q4 21 was 1.9%. Total GDP grew by 1.6% in 2021, while GDP growth is expected to reach 4% in 2022, with the Monetary Policy Committee (MPC) keeping the interest rate unchanged at 0.50%.

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