Thailand consumer confidence hits 7-month low in May

Thailand’s consumer confidence index slumped to a seven-month low in May, dropping for the third consecutive month, according to a survey released Thursday by the University of the Thai Chamber of Commerce.

The index fell to 60.5 in May, down from 62.1 in April. This decline encompassed all components of the survey, which polled 2,245 respondents.

University President Thanavath Phonvichai stated that the decline in consumer confidence is due to a decrease in political sentiment. Ongoing court cases, including one that could lead to the removal of Prime Minister Srettha Thavisin, have contributed to a lack of optimism about the political situation.

Attribution: Xinhua