Thailand's Consumer Confidence Drops to Record Low in April

BANGKOK (NNT) – The University of the Thai Chamber of Commerce (UTTC) said consumer confidence hit a record low in April, dropping to 46.0 from 48.5 in March, dented by a new wave of COVID-19 infections.

UTTC president Thanavath Phonvichai said consumers feel that the economy has not recovered much and, lacking catalysts and consumer confidence, will remain on a downward trend with no signs of recovery until new infections decrease and more vaccinations are administered.

He said the university estimated an economic loss of 400-600 billion baht if the outbreak continues beyond this month, adding that the government should rush to implement fresh relief measures to help shore up the economy.