The KR Household Economic Condition Index (KR-ECI) and 3-month Expected KR-ECI in June 2023 remained stable from the previous month at 35.0 and 38.6 respectively. The slowdown in product prices, especially energy prices, has alleviated Thai households’ concern about product prices and expenses for the third consecutive month. However, Thai households were more worried about income and savings due to the uneven recovery of the Thai economy and volatile weather conditions.
KResearch has conducted an additional survey on the current level of households’ concern about the impact of the El Niño phenomenon, which is expected to intensify this year and persist until 2024. The results show that most households (47.6%) are very concerned about the impact of the El Niño phenomenon, while households are most concerned about higher power bills due to increased electricity consumption (26.5%).
The KR-ECI is likely to recover in the second half of this year in line with the recovery of the Thai economy and tourism sector. However, such recovery remains fragile amid various challenging factors, such as manufacturers’ price transmission, elevated interest rates, global economic slowdown, and volatile weather conditions while the formation of a new government remains an issue of ongoing concern.
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