Thai consumer confidence slipped to a new five-year low in October on concerns over soaring fuel prices and the rising cost of living, researchers said Thursday. Despite easing political concerns after a coup last year, the consumer confidence index was at 75.5 points last month, down from 75.8 points in September, the University of the Thai Chamber of Commerce said.
The index has spent 40 months below 100, the level which indicates that pessimists outnumber optimists, the pollster said. "Although political uncertainties have eased as Thailand is moving toward a general election, the skyrocketing oil prices have become a greater concern for consumers," said pollster Thanawat Phonvichai.
The military-installed government has promised to hold elections on December 23, clearing the way for an elected government to take office early next year.