Thai consumer sentiment at 25-month low in June: survey

[BANGKOK] Thai consumer confidence dropped for a sixth straight month in June, a university survey showed on Thursday, due to worries about the impact of Britain's decision to leave the European Union on the domestic and global economy.

Consumers were still concerned about low commodity prices and felt the country's economic recovery was slow, the University of the Thai Chamber of Commerce said.

The June index was the lowest since May 2014, the month the military seized power to end om a year earlier.

The Bank of Thailand has forecast economic growth of 3.1 per cent this year but predicts exports will contract 2.5 per cent. The economy expanded 2.8 per cent last yearrprolonged political unrest.

The junta has since struggled to revive Southeast Asia's second-largest economy as pivotal exports and domestic demand have remained sluggish at a time household debt levels are high.

The economy grew 0.9 per cent in January-March from the previous quarter and 3.2 per cent from a year earlier.

The Bank of Thailand has forecast economic growth of 3.1 per cent this year but predicts exports will contract 2.5 per cent. The economy expanded 2.8 per cent last year.

REUTERS