Consumer Confidence Index for February falls

BANGKOK, March 3 (TNA) -- Thailand’s Consumer Confidence Index for February this year retreated for the second consecutive month on concerns by the people that Thailand’s economy is recovering too slowly, said Thanawat Polvichai, director of University of Thai Chamber of Commerce’s Economic and Business Forecast Centre. Mr Thanawat said the Consumer Confidence Index fell to 74.7 in February from 75.5 in January on worries that national economy recovered too slowly along with drought problem which is getting worse and the slowdown in global economy which might affect Thailand’s exports. Unfavourable risks which are confronting Thailand’s economy also include low global oil prices which could impact major oil producers in the world which could affect Thailand’s exports of key agricultural products, said Mr Thanawat. Eventually, Thailand’s exports could suffer a zero growth or contacted, he said. On the current drought problem, Mr Thanawat said the Centre forecast that damage from the problem would total between 70 – 100 billion baht. Of the total, off-season rice farming would suffer between 50-60 billion baht. However, he forecasts that Thailand’s economy would improve from second quarter this year after the government injected 87 billion baht to help solve drought problem and assist agriculturists. (TNA)