March 12, 2009
Bangkok (ASTV Manager Online) – Consumer index decreased from 68.3 in January to 67.2 in February. The figures showed the first decline in three months, according to the University of the Thai Chamber of Commerce.
Falling index was because people were worried about Thai and overseas economic situations.
Confidence index of the job market and future income still remained low at 66.5 and 88.5 respectively.
The current economy also resulted in a sharp drop in consumers’ purchasing power.
It is possible that people will delay their spending in the second quarter. However, the situation is believed to improve in the third quarter of this year.
The confidence index reflected that the government’s economic stimulus measures would support the country’s economy in the short run only.
The government has approximately spent 100,000 million to boost the economy.
The announcement of economic figures both at home and abroad also reflected that the global economic crisis was worse than expected.
The government was urged to issue measures to create jobs such as local budget allocation and big project investment.
Thailand’s exports plunged 12 percent from the previous month. Exports valued more than 81 billion baht.
Rice exports fell 59 percent. Declining exports also included lubricating substances and shoes.
