Bangkok: A survey revealed on Thursday ( Oct. 10 ) that consumer confidence in Thailand dropped for the seventh consecutive month in September to its lowest level in 17 months. This was primarily due to concerns about slow economic growth and floods in some parts of the nation.
The University of the Thai Chamber of Commerce’s customer score dropped from 56.5 in September to 55.3 in a statement from 56.5 in the previous quarter.
Despite government aid for vulnerable groups, the academy claimed, flooding and higher living costs caused a loss of confidence.
The storms have a mental effects, overshadowing the good vibe of the flyer scheme, according to school president Thanavath Phonvichai at a press conference.
Phase one of the government’s flagship US$ 14 billion stimulus handout program, which will eventually see an estimated 45 million people receiving 10, 000 baht ( US$$ 298 ) each for six months of spending, was launched last month by the government.
14.5 million happiness card holders and those who are disabled will get their handouts in income during the first phase.
The plan, which was scheduled for deployment in the last quarter of this year, is the basis of the government’s plans to kickstart Southeast Asia’s second-largest sector, which expand 2.3 per share in the second quarter of 2024.
The central bank predicts 2.6 per cent rise this time, after last year’s 1.9 per cent rise that trailed local classmates.