Consumer confidence up in June

The consumer confidence index rose to 75.1 in June, the highest in eight months, the Thai Chamber of Commerce reported on Thursday.

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Thanawat Pholvichai, director of the Centre for Economics and Business Forecasting at University of the Thai Chamber of Commerce, said the 75.1 index in June was the highest since November 2013.

He attributed it to the stabilised political situation and expected economic recovery.

The National Council for Peace and Order took control of national administration and and as a result consumer confidence had risen in the overall economic and political situation in Thailand.

Mr Thanawat said people's consumption is expected to steadily grow in the second half of this year, as the World Cup should significantly stimulate spending and payments for farmers' pledged rice should increase nationwide purchasing power.

Consumption would be an important force that would drive the Thai economy in the second half of this year and consumer confidence was likely to grow gradually. 

The Centre for Economics and Business Forecasting predicted the economy would expand by 2-3% this year and 5% next year.

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