Thai consumer confidence rises in September on new government policies

THAI consumer confidence rose for a second straight month in September, boosted by government stimulus policies and higher foreign tourist numbers, a survey showed on Monday (Oct 9).

The consumer index of the University of the Thai Chamber of Commerce increased to 58.7 in September from 56.9 in August.

Consumers had more confidence following the formation of a new government in August after weeks of impasse and its approval of policies designed to boost the economy and ease the cost of living, the university said.

The new government has approved fresh policies to stimulate a sluggish economy weighed down by declining exports. Among those is a 10,000 baht (S$369.61) handout via a digital wallet to about 56 million people, to be implemented next year.

The economy is expected to grow 3 per cent this year, university president Thanavath Phonvichai told a briefing.

However, consumers remained worried about a global economic slowdown and higher interest rates around the world that had impacted demand for Thai exports, the university said. REUTERS