Thai Nov consumer confidence rises for 4th straight month: survey

[BANGKOK] Thailand's consumer confidence rose for a fourth straight month in November, boosted by a stronger economic outlook as exports and tourism remained robust but low commodity prices were still a concern, a private survey showed on Thursday.

The index of the University of the Thai Chamber of Commerce rose to 78.0 in November from 76.7 in October.

Consumers were also less worried about the political situation and expected more stability in the future, the university said in a statement.

Private consumption accounts for half of Southeast Asia's second-largest economy, but has been crimped by high household debt.

The government offered a shopping tax incentive from Nov 11 to Dec 3 to help spur spending before the year-end.

Third-quarter growth, however, beat expectations, growing 4.3 per cent on the year and 1.0 per cent on the quarter, thanks to robust exports and tourism.

The state planning agency has forecast GDP growth of 3.9 per cent for this year and 3.6-4.6 per cent for 2018.

Last year's growth was 3.2 per cent, less than that of regional peers.

The Overall Consumer Confidence Index reflects views on the economy, job opportunities and future income. The survey is usually done in the last week of the month.

REUTERS