Consumer confidence rises again

The Thai consumer confidence index hit 78.2 in July, the highest in 11 months, thanks to political and economic stability, a University of the Thai Chamber of Commerce survey said.

The university announced Thursday that the index rose from 75.1 in June and improved for the second consecutive month following the May 22 coup.

Confidence in July resulted from the National Council for Peace and Order's approval of a 2.4-trillion-baht infrastructure investment project, export growth in June, and lower retail fuel prices.

Thanawat Polvichai, director of the university's Centre for Economics and Business Forecasting, said the consumer-confidence index covering vehicle purchases stood at 102.7 and the index for consumer happiness over the next three months stands at 100.5.

Both indices exceeded the 100 level for the first time in eight and 16 months, respectively, thanks to an "improved" political outlook as well as perceived solutions to the country's drug problems.

Mr Thanawat also said that the index for consumers' feelings about the political situation stood at 80.8, its highest level in 34 months.

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