InfoQuest (August 08, 2019) -- The Center of Economics and Business Forecasting of University of the Thai Chamber of Commerce (UTCC) released the Consumer Confidence Index (CCI) in July 2019, which dropped from 76.4 in June 2019 to 75.0, the 5th consecutive month of decline and the lowest in 22 months. The main reason is people's worries over economic picture.
The overall CCI fell from 63.4 to 62.2, the employment confidence index dropped from 72.2 to 70.9, and the future income confidence index declined from 93.5 to 91.9.
The major negative factors include: trade war, drought, the price drop of domestic retail oil, the -2.15 percent export increase in June, and consumers' worries over the slow domestic economy recovery and its over-concentration.
Positive factors include: the political stability at home after the founding of the new government, the price drop of diesel oil, and a strong baht.
Source: InfoQuest, by Kasamarporn Kittisamphan/Sasithorn, translated by Xinhua Silk Road
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