Thai June consumer confidence drops for 2nd month: survey

[BANGKOK] Thailand's consumer confidence in June declined for a second straight month, hitting its lowest in five months, on worries about the country's economic recovery, global uncertainty and low commodity prices, a private survey showed on Thursday.

The index of the University of the Thai Chamber of Commerce dropped to 74.9 in June from 76.0 in May, when it had dropped for the first time in six months.

Consumer spending may pick up in the second half of the year if the government speeds up spending, the university said in a statement.

The Bank of Thailand on Wednesday slightly raised its 2017 economic growth forecast to 3.5 per cent from 3.4 per cent seen in March. Last year's growth was 3.2 per cent.

REUTERS