A survey by the Thai Commerce Ministry’s Trade Policy and Strategy Office (TPSO) shows that the overall Consumer Confidence Index (CCI) in July shrank to 36.7, from 42.7 in June, in response to the worsening COVID-19 situation.
TPSO Director-General PhusitRattanakul said the increasing number of new infections, as well as the government placing 29 provinces in the COVID-19 ‘dark red’ zones, with measures including business lockdowns and a nighttime curfew, has affected consumer confidence in the economy.
He said the southern region saw the largest drop in CCI, from 44.7 in June to 36.8 in July, due to the worsening COVID-19 situation and the plummeting prices of agricultural produce, such as rubber, durian and mangosteen.
The CCI among students saw the biggest drop, from 43.0 to 33.1, due to worries over finding a job after graduation as several businesses have reduced hiring during the pandemic. Meanwhile, the CCI among business employees dropped from 41.9 to 35.2, state employees from 48.6 to 42.8, entrepreneurs from 41.9 to 36.3, agriculturists from 43.7 to 38.1 and freelancers from 39.7 to 34.2. (NNT)