The Consumer confidence index (CCI) for April was down for the first time in seven months to stand at 83.7, against 84.8 in March, the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce said on Thursday.
Confidence in the overall economy for the month stood at 75.0, down from 73.9 in March, job opportunity at 76.4, down from 75.5, and future income at 101.8, down from 102.9 in March, according to the centre.
However, the consumer confidence index still remains below 100, showing that consumers have less confidence in the economic system, it said.
The positive factors that boosted confidence included the decline in fuel pump prices, the Bank of Thailand’s revision of its economic growth projection for 2013 to 5.1% from 4.9% and to 5% next year from the previous forecast of 4.8% and the monetary policy committee’s decision to keep the policy rate unchanged at 2.75%.
The negative factors were the strength of the baht currency, which could affect exports, tourism and overall economic expansion, concerns about political uncertainty, the low prices of agricultural products and the uncertainty in global economic recovery, particularly in Europe.