ECONOMY | Staff Reporter, Thailand

Thai consumer confidence down for second straight month in November

It dropped 3.1% YoY to 72.3.

Thai consumer confidence slid again in November, amidst slow domestic and global economic recoveries and low commodity prices.

Maybank KimEng notes that consumer confidence in Nov fell 3.1% YoY and 1.1% MoM to 72.3. CCI for willingness to buy new cars has the highest percentage of contraction followed by willingness to buy new houses signaling the still weak consumption trend.

The confidence index on job, income & economic situation also contracted.

"Flooding in the southern region, which has affected crop production & tourism as well as low commodity prices, is perceived have negative impact on purchasing power," said MayBank KimEng. 

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