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Thai Consumer Confidence Index Hits Lowest in 42 Months in May

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Thailand's consumer confidence deteriorated to the lowest level in 42 months in May, according to survey data from the University of the Thai Chamber of Commerce (UTCC).

The latest Consumer Confidence Index slipped to 49.5 in May from 50.6 in April. A reading above 100 indicates positive sentiment, while a reading under 100 suggests pessimism.

UTCC attributed the drop to the US-Iran conflict and high oil prices.

The index for current economic conditions shrank further to 33.6 from 34.7 the previous month, while the index for future economic conditions edged down to 57.3 from 58.3.

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