Thai consumer confidence at near five-year low
BANGKOK (Thomson Financial) - Thai consumer confidence held steady at a five-year low in September on concerns over high fuel prices and lingering worries about the nation's tumultuous politics, pollsters said Thursday.
The consumer confidence index was at 75.8 points last month, almost unchanged from 75.7 points in August, according to a survey by the University of the Thai Chamber of Commerce.
The index has spent 38 months below 100, which indicates that pessimists outnumber optimists.
'The high price of petrol is the top concern of consumers, along with the rising cost of living. People are also concerned about the economy overall and their job opportunities,' said pollster Thanawat Phonvichai.
Even as the nation's political woes have eased since last year's coup, the survey found that consumers remain wary about the overall political situation.
'They said the political situation remains worrying,' Thanawat said.
'Even though consumers believe that the political and economic situation will improve after the general election, they are not yet ready to spend,' he told Agence France-Presse.
The military-installed government has promised to hold elections on December 23, clearing the way for an elected government to take office early next year.
The index is based on a survey of some 2,200 people nationwide.
Forbes Oct. 11, 2007