Grassroots confidence deteriorated in the first quarter as people felt the economy was stagnant, according to the Government Savings Bank's (GSB) latest survey.
The GSB's Grassroots Economic Sentiment Index fell to 47.2 in the first quarter from 49.9 in the previous quarter, said chief executive and president Chatchai Payuhanaveechai.
The state-owned bank surveyed 1,843 respondents who earn a monthly income of up to 15,000 baht.
Low-income earners felt the country's economy recovered at a very slow pace, product prices and living costs were high, and chances to find jobs were still measly, he said.
However, their expectations for the next six months stood at 48.4, indicating a brighter view about the country's economy as the government will launch measures to help with the cost of living. They also expect the country's economic rebound will be broadened and farm product prices will increase, said Mr Chatchai.
A score of 50 represents the split between optimism and pessimism.
Ability to service debt, spending, savings, opportunities to find jobs and income, and the country's economy are factors used in the survey's measurement.
The subindex on spending ability was the only factor that increased as respondents believed their purchasing power will improve because of the government's welfare and subsidy scheme for low-income earners. The index on spending ability rose to 65.6 in the first quarter from 63.4 in the final quarter of last year.
The government is working out welfare and subsidy proposals after registration for the scheme closed on Monday.
The number of registrants for the scheme through the national e-payment system in this year's round surged by more than 50% to 13.5 million. There were 8.27 million registrants for the scheme last year, but 1.3 million of them were later deemed unqualified.
The Finance Ministry's criteria for this year requires applicants to be unemployed or to have had an annual income of 100,000 baht or less last year to receive aid under the programme. They must also have savings, bonds and savings certificates worth less than 100,000 baht combined.
If applicants own property, the space must not exceed 35 square metres for a condo unit, 25 square wah for a townhouse or 10 rai of land for agricultural purposes. Applicants must be Thai nationals aged 18 and above.
The names of those qualifying for the scheme will be announced on Aug 1. The government will start distributing electronic cards to members by September.
The government initially plans to offer free rides on public buses and trains and subsidised utility bills for those at the bottom of the economic ladder.
Separately, GSB's survey on online media behaviour found 80% of respondents use online media, with Facebook the most popular social media at 44.7%, followed by Line at 24% and YouTube at 10.1%. The most popular hours for using online media are from 7pm to 10pm with 32.2% of respondents active.