Consumer confidence up again

The consumer confidence index rose for the fourth consecutive month to reach a 13-month peak in August, the Thai Chamber of Commerce (TCC)reported - attributing the steady improvement to the newfound political stability.

Thanavath Phonvichai, director of the TCC university's Centre for Economic and Business Forecasting, said on Thursday the overall  consumer confidence index rose from 78.2 in July to 80.1 in August.

It was the fourth consecutive month the index had improved and it was now at its highest level in 13 months, he said.

Indices for consumer confidence in the economy, job opportunities and future income had all gone up.

All the indexes improved as consumers saw political stabilty and hoped the national economy would recover in the near future, he said.

Mr Thanavath warned that low prices of farm products and the slow export growth were negative factors for the Thai economy. The economic centre had lowered its forecast for export growth this year from 1.2-2% to 1-1.5%.

He urged the government to speed up channeling budget funds to local projects to improve consumer-  spending confidence and to lift martial law in tourist provinces to stimulate the national economy in the fourth quarter of this year.

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