Thailand’s January Consumer Confidence Index hits record high for 16 months

Friday, 15 February 2013 From Issue Vol. XXI No. 7 By  MCOT

Thailand’s Consumer Confidence Index (CCI) in January rose for the third consecutive month and hit its record high since October 2011, according to a survey conducted by the University of Thai Chamber of Commerce (UTCC) Economic and Business Forecasting Center.

Thailand’s CCI in January stood at 81.7, up from 80.2 in December last year, center director Thanawat Polvichai said.

The Consumer Confidence Index in all categories rose and bounced back to its normal level, the same as the level before the country was hit by devastating floods in 2011.

The confidence index for the overall economy rose to 72.1 from 70.6 and confidence index on future income touched 100, the first time in 16 months, up from 98.3 in the previous month thanks to improved local and global economy.

Consumption, investment, exports and tourism, which have been improved and the minimum wage rise support overall purchasing power.

He said the Bank of Thailand’s 2013 Gross Domestic Product growth projection at 4.9 percent and over 5.5 percent projected by the Office of the National Economic and Social Development Board is a positive factor while the policy interest rate remains at 2.75 percent.

The Thai stock market rose 82.27 points in January and exports recovered significantly in December 2011, supporting economic growth and consumer spending in buying new cars and travel. As a result, he said the GDP in the first half of this year is likely to grow 4-5 percent.

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