KResearch
conducted a survey on the living conditions of Thai households in June 2020, at
which time the the COVID-19 outbreak in Thailand was continuously improving
with no new domestic infection cases reported for months in a row, while the
government had relaxed some preventive measures at different stages. The survey
found that:
KR-ECI in June 2020 stood at 36.0, maintaining
a similar level of 36.1 in May 2020, as the government exercised further
relaxation of preventive measures on activities and businesses in the yellow
band (Phase 3) and the red band (Phase 4), as well as the revocation of the
decree that prohibited people from leaving their homes (lifting of curfew). As
a result, the majority of economic activities resumed their operations,
allowing income and employment within Thai households to gradually increase
from the level in May 2020. Meanwhile, Thai households incurred greater
financial burdens in June 2020 from the rising prices of goods, especially in
energy and public utilities. Certain households also bore additional expenses
that were related to the education of their children prior to the start of new
school semesters on July 1, 2020.
The 3-month Expected KR-ECI (during July to
September) remained at 37.4, improved from the 35.9 recorded in the previous
survey. For the first time in 7 months, the KR-ECI for the next three months was
found to be higher than the current economic condition index. This turnaround
suggests the perception of households towards economic conditions in 3Q20 will
continue to improve, going forward. However, the living conditions of Thai
households still rely on relief measures from the government and financial
institutions, which will affect the perception of households. Therefore, it is
necessary to monitor the economic and living conditions of Thai households after
the relief measures come to an end.
KResearch
views that the Thai household economic conditions in 2H20 remain extremely
fragile, even though the government has already issued relief measures for all
types of economic activities/businesses. Future surveys will reflect different
results if the situation changes, while a close eye shall be kept on the
COVID-19 situation in Thailand, as it may affect government policy in handling
various problems and the direction of economic recovery in the near future.
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