Thai consumer confidence hits six-month high in November: survey

[BANGKOK] Thai consumer confidence rose for a third consecutive month in November to reach its highest level in six months, helped by government policies and support for domestic tourism, a survey showed on Thursday (Dec 4).

The consumer index of the University of the Thai Chamber of Commerce rose to 53.2 in November from 51.9 the previous month, the university said.

Consumers are hopeful that the government’s economic stimulus policies will lead to a short-term recovery, it said. The government has introduced a series of stimulus measures to revive the economy, including a 44 billion baht (S$1.8 billion) consumer subsidy programme.

However, consumers still felt that the economy overall was recovering slowly and that the cost of living remains high.

“Also, flooding in the South, the trade war, and tensions between Thailand and Cambodia continue to pose risks that could undermine consumer confidence both now and in the near future,” the university said.

Severe flooding in parts of the country’s south would trim economic growth this year and next, a joint business group said on Wednesday. It projected growth of 2 per cent this year and 1.6 to 2 per cent next year. REUTERS