Thailand's CCI lowest in decade in October

BANGKOK, November 10 (TNA) - Thailand's consumer confidence index (CCI) dropped in all categories for the third consecutive month in October 2011, with many categories plummeting to their lowest terms in a decade, due to the country's vast flooding and impacts from the vulnerable world economy caused by the ongoing debt crisis in Europe. According to a recent survey, the CCI remained below its normal level in all categories, with its indices in the overall Thai economy, job opportunities and people's future incomes standing at 62.8, 63.7 and 90.9 respectively last month, from 72.2, 73.0 and 100.3 in September, reflecting that local consumers had no confidence in the areas in the wake of the ongoing flooding crisis. Meanwhile, the Bangkok-based University of the Chamber of Commerce's Center for Economic and Business Forecasting predicted that local people’s consumption should slow down in the fourth quarter of this year and the first quarter of next year due to their concerns over inundation impacts on the national economy, high costs of living and possible fluctuations of the global economy in the future, suggesting that quick and concrete post-flood rehabilitation and new economic stimulus be implemented to swiftly restore the consumers’ confidence. (TNA)