November 12, 2009
BANGKOK (AFP) - Thai consumer confidence dropped for the first time in five months in October due to increasing political uncertainty, delays to large infrastructure projects and high oil prices, a survey showed Thursday.
The consumer confidence index edged down to 75.4 from 75.6 in September, remaining below 100 for the 64th consecutive month, the University of the Thai Chamber of Commerce (UTCC) said.
A score below 100 indicates that pessimists outweigh optimists.
"The index reflects that Thai consumers have persistent concerns in the overall economic situation," pollster Thanawat Pholvichai said.
"They are worried about a fragile economic recovery, political uncertainties and a high cost of living," he added.
Last month the Thai Administrative Court issued an injunction to suspend 76 projects in an industrial area on Thailand's eastern seaboard that were deemed to pose a health hazard to local residents.
The Thai government has appealed the ruling.
The kingdom has also been shaken by months of political turmoil, recently inflamed by the visit of fugitive former premier Thaksin Shinawatra to neighbouring Cambodia.
Pollsters forecast that the index would improve slightly in the fourth quarter as employment is due to pick up from the third quarter.
They reiterated their call for the government to quickly create more jobs and political stability.
