BANGKOK- Thailand’s consumer confidence fell for the first time in five months over uncertainty from US trade policies, higher living costs and the slow recovery of the domestic economy, a survey showed on Thursday.
The consumer index of the University of the Thai Chamber of Commerce fell to 57.8 in February from 59.0 in January, the university said in a statement, having risen for four straight months.
“This is a worrying signal … the (economy) is quiet, despite government measures,” university president ThanavathPhonvichai said, adding uncertainty over global trade weighed on confidence.
Southeast Asia’s second-largest economy has rolled out a series of measures to support its economy, including the third phase of a “digital wallet” handout program, aimed at 2.7 million people aged between 16 to 20, and tax deductions for capital market investments in a bid to lift growth above 3.0 percent.
Thailand could be targeted for tariffs because of its large trade surplus with the United States, he said.
Thailand’s surplus last year amounted to $35.4 billion last year – the 11th largest bilateral trade surplus with Washington.
