Thai May consumer sentiment at 8-month low

[BANGKOK] Thai consumer confidence dropped for a fifth straight month in May, a university survey showed on Thursday, due to concerns over economic prospects at home and abroad, drought and low commodity prices.

Consumers felt the economic recovery was slow, the University of the Thai Chamber of Commerce said.

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

The Bank of Thailand forecast economic growth of 3.1 per cent this year, up from 2.8 per cent last year.

Southeast Asia's second-largest economy has struggled to expand since the army seized power in May 2014 to end street protests. Pivotal exports and domestic demand have remained sluggish at a time household debt levels are high.

Overall Consumer Confidence Index, which reflects views on the economy, job opportunities and future income. The survey is usually done in the last week of the month.

AFP