The latest study by the University of the Thai Chamber Of Commerce shows that strong bhat, high fuel prices and closure of companies have led to loss of competitive edge in the international market.
Around 1,200 factories across the nation have closed down in recent years, thereby increasing the rate of unemployment.
The survey shows that last month's closure of garment and footwear manufacturers Thai Silp South East Asia Import Export Co and Union Footwear Plc has hurt the feelings of consumers.
The analysis found out that people's confidence in overall economy dropped to 70.0 points in July from 71.0 in previous month, the poorest figures in the last five years. Job opportunities declined to 70.8 from 71.9 and future income to 86.6 from 87.4.
The declining Consumer Price Index signifies that the poor consumption will continue through the third quarter this year.
It is expected that if country's political and economic problem improves, the fourth quarter of the year might see some positive change.
marketing@alchempro.com
