the consumer confidence index in Thailand has declined for the fourth consecutive month
Bangkok, June 12 (Xinhua) -- (Reporter Li Yingmin) A report released by the University of the Thai Chamber of Commerce on the 12th shows that due to concerns over the US tariff policy and economic downturn, Thailand's consumer confidence index has declined for the fourth consecutive month, dropping to 54.2 in May.
Tanawat, the president of the Thai Chamber of Commerce University, said at a press conference on the same day that the current situation indicates that from the perspective of consumers, the economic situation in Thailand is not good and there are no signs of recovery yet.
He said that if Thailand fails to negotiate a tax reduction agreement with the United States by July 9, goods exported from Thailand to the United States will be subject to a 36% tariff. As the second-largest economy in Southeast Asia, Thailand has not yet started tariff negotiations with the United States, and it is unknown whether the negotiations will succeed.
Tanawa also said that the reduction in export and tourism revenues is estimated to cause a loss of about 150 to 200 billion Thai baht to the Thai economy. Last month, the National Economic and Social Development Council of Thailand lowered its growth forecast for this year. He also said that the impact of the tariff issue would last for two years.