BANGKOK — Thai consumer confidence dropped for a fifth consecutive month in July to its lowest level since August last year due to concerns over a slow economic recovery, the rising cost of living and political uncertainty, a survey showed on Tuesday.
The consumer index of the University of the Thai Chamber of Commerce fell to 57.7 in July from 58.9 in the previous month, the university said in a statement.
Consumers were worried about future political instability and about the economy, which was still recovering slowly because there were no clear stimulus measures yet, it said.
The Constitutional Court will hand down its verdict in a case seeking the dissolution of the opposition group Move Forward, the biggest party in parliament, on Wednesday.
The court will also hand down its verdict on August 14 in a case seeking the dismissal of Prime Minister Srettha Thavisin over a Cabinet appointment. Srettha denies wrongdoing.
The removal of Srettha could plunge Thailand into uncertainty and would require parliament to elect a new premier, potentially pitting his Pheu Thai Party against coalition partners in what could result in a shake-up of the governing alliance and a realignment of Cabinet and policies.
The university said consumer confidence might improve if the government accelerated budget disbursement and stimulated the economy through a household stimulus scheme in the final quarter of the year.
Be the first to comment