The consumer confidence index fell to 69.1 in November, the lowest in 67 months, on concerns about politics and the economy, the University of the Thai Chamber of Commerce reported on Friday.
The index dropped for the ninth consecutive month. It was at 70.7 in October.
Despite economic stimulus measures from the government, consumers felt uncertain about political stability and economic recovery in light of the decline in exports and the global economic situation given the trade war between China and the United States, and Brexit, said Preeda Phothong, deputy director of the UTCC’s centre for business and economic forecasting.
UTCC vice president for research Thanavath Phonvichai said consumers doubted the economy would recover. If confidence continues to recede, extending its decline to one year, or beyond next February, it could affect overall economic growth, he said.
