University of the Thai Chamber of Commerce Consumer Confidence Index for Feb. 65 dropped to 43.3, down for the second straight month and the lowest in five months after concerns about the spread of the coronavirus “Omicron” and the Russian-War situation. Ukraine resulting in an increase in world oil may put pressure on economic recovery and affect the cost of production
Center for Economic and Business Forecasting University of the Thai Chamber of Commerce The Consumer Confidence Index fell for a second straight month and was the lowest level in five months since October. 64 onwards
Because consumers are concerned about the epidemic of the Omicron covid virus. Including serious concerns about the war situation between Russia and Ukraine. that may cause the world oil price to tend to rise and affect the cost of production of products This may be a factor that increases the pressure of slowing or slowing down the recovery of the global economy. and may have a negative impact on exports and the Thai economy in the future
In addition, the continued rise in oil prices and the problem of high product prices As a result, consumer confidence both at present and in the future has continued to decline.
The Consumer Confidence Index (CCI) in February 65 dropped from 44.8 to 43.3 as the overall consumer confidence index continued to move below the level. 100 shows that consumers still see that the overall economic situation is still slow to recover from the COVID-19 crisis in Thailand and around the world. Especially when the war between Russia and Ukraine is aggravated. The more negative psychological impact on domestic purchasing power. tourism sector, export sector, business in general and future employment There is still an opportunity to undermine consumer confidence both now and in the near term.
The overall economic sentiment index Confidence Index on Overall Job Opportunity The index of confidence in future income was at 37.2, 40.1 and 52.6, respectively, with a decrease in all items compared to the index in January. at levels 38.7, 41.4 and 54.4, respectively.
However, the index remains below normal (at 100), indicating that consumers are not confident about the economic situation. job opportunities and substantial future income Because there are concerns about the COVID-19 crisis in Thailand and around the world. This affects the Thai economy and employment opportunities to recover slowly in the future. This will make the future income of consumers highly uncertain.
Current consumer confidence has dropped from 28.5 to 27.5, which is still very low, indicating that The current Thai economy is very bad from the point of view of consumers. Meanwhile, the index of future confidence also declined. It has dropped from 52.5 to 50.8, but remains at a very low level as well and is below normal (that is, 100), reflecting that. Consumers still lack a lot of confidence about the future Thai economy.
The Consumer Confidence Index dropped for the second straight month and dropped to the lowest level in five months, with consumers becoming increasingly worried about the COVID-19 situation in Thailand. and the war situation between Russia and Ukraine This has resulted in many countries having more economic sanctions against Russia. and there may be a protracted and escalating war This may result in consumer confidence deteriorating and being more cautious in their purchases because oil prices have risen dramatically and the global economy tends to slow down due to the war.
Which must be monitored how much and how long it will affect consumer confidence and the recovery of the Thai economy. This could cause the Thai economy to slow down below its economic growth target of 3.5-4.5% this year.
