BANGKOK, Sept. 11 (Xinhua) -- Thailand's consumer confidence plunged for a seventh successive month in August to its lowest rate in 32 months, driven by concerns over local political instability, border conflicts, and a slow economic recovery, a survey showed on Thursday.
According to a survey of 2,244 respondents conducted by the University of the Thai Chamber of Commerce, the consumer confidence index decreased to 50.1 last month from 51.7 in July as all components of the index dropped.
The decline was primarily due to rising political uncertainty following a constitutional court ruling that removed the prime minister from office, while consumers remained worried about sluggish economic growth amid high cost of living, said the university's president, Thanavath Phonvichai.
The downturn in sentiment, along with limited access to loans, resulted in more cautious spending habits among consumers, Thanavath told a news conference.
However, this trend could reverse next month on the back of positive views and hope surrounding the incoming government under Prime Minister Anutin Charnvirakul, he said.
"The administration's capacity to deliver outstanding and tangible outcomes would be vital in restoring confidence," he noted. ■
