A motorcyclist fills his tank. The University of the Thai Chamber of Commerce reports falling confidence among consumers who fear that rising oil prices are weakening their purchasing power. (Bangkok Post file photo)
The consumer confidence index dropped for the first time in four months to 82.3 in September from 83.2 in August on rising oil prices and the trade war, according to the University of the Thai Chamber of Commerce.
The index for consumers’ confidence in the overall economy fell from 70.2 in August to 69.4 in September. Confidence in job opportunities went down from 78.3 to 77.6 and confidence in future income declined from 101.2 to 100.0 over the same period.
Apart from rising oil prices, consumers were also concerned about the decreasing arrivals of Chinese tourists, low prices of farm products — especially natural rubber and rice, as well as slow and uneven economic recovery.
All the indices at 100 and lower showed that consumers remained worried on economic situations, jobs and future income, UTCC said.