In September, concerns about flooding and the slow business grew.
PUBLISHED: 10 Oct 2024 at 14: 54
A study on Thursday revealed that worries about slow economic growth and landslides in some areas of Thailand’s economy led to a 17-month lower in consumer trust, which was for the seventh consecutive month.
The University of the Thai Chamber of Commerce announced in a speech that the index dropped to 55.3 in September from 56.5 the past month.
Despite recent federal grants to millions of people, it claimed, confidence was hampered by flood and high living costs.
According to school leader Thanavath Phonvichai,” the floods have a mental effect, overshadowing the good sentiment of the handout scheme.”
The government announced last month that the first stage of its flagship gift, worth 10,000 rmb, would be used to encourage economic growth.
14.5 million security cardholders and people with disabilities who were recipients of their handouts in cash rather than electronic money as officials had planned in the beginning were covered by the initial phase.
The system is the basis of the government’s ideas to kickstart Southeast Asia’s second-largest sector, which expanded by a respectable 2.3 % in the second quarter of 2024.
The Bank of Thailand predicts 2.6 % growth this year, after last year’s 1.9 % expansion that trailed regional peers.