Consumer confidence fell a fraction, first time in seven months, might threat retail sales

Consumer confidence, noted for their spending that is driving the Thai economy, fell for the first time in seven months in April mainly because of the baht‘s appreciation, falling crop prices and political instability. And in March, the Central Bank says consumers spending dipped by about 1.1%. The Central Bank says, with the government accelerated its spending, and other factors such as export and manufacturing expansion and low inflation, the Thai economy has stabilized. Thailand boasts the second largest retail market in South East Asia, growing by 7% in 2012 to reach US$44.66bn, around 16% of GDP. According to the Kasikorn Research Center, the Bank of Thailand and Collier International Thailand Research, Thailand’s retail market growth is targeted to increase by 15-20% in 2013 to reach US$52bn due to investment in more new retail brands, both local and international (Source).