CCI drops for the first time in Oct

The consumer confidence index in October dropped for the first time in five months from 68.4 in September to 68.0, Thanawat Polwichai, director of the Economic and Business Forecasting Center at the University of Thai Chamber of Commerce, said on Thursday.

The job opportunity confidence index for the month was 66.9, while the future income confidence index stood at 91.2, according to Mr Thanawat.

He said the centre’s survey found that the negative factors hurting the CCI were global oil price hike, political uncertainty, contraction in exports, the decline in Stock Exchange of Thailand Composite index, the industrial investment impasse in Map Ta Phut, and the increasing cost of living.

Meanwhile, the positive factors included the better than expected economic projection by the Bank of Thailand as GDP growth rate is projected to shrink by only 2.5-3.5 per cent, the central bank’s monetary policy committee unchanged policy rate, and the baht appreciation.