Confidence hits 15-month high

Thailand’s consumer confidence index hit its highest mark in 15 months in July, but still showed signs of concern about the economy.

The survey of 3,343 people and their opinions of the economy, income and employment opportunities rose to 41.4, up from 38.4 in June, said Ampawan Pichalai, director of the Trade Policy and Strategy Office.

The index for consumers' expected confidence over the next three months stands at 45.4.

Mrs Ampawan said that the fact the index is still sitting below 50 shows some people are still worried about their economic situations. Although political unrest has been quelled, some still are concerned about the cost of living and are spending less on consumer products.

She also said that household debt likely will rise as prices of farm products, including rice, rubber and palm oil, remain low and uncertainty in economic recovery worldwide impacted Thai exports and the economy.

However, consumers' expectations for their incomes in the next three months improved because many held hope for the National Council for Peace and Order and economic policy, she said.

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