BANGKOK, Aug 15 — The Ministry of Commerce said today that the consumer confidence index has recorded a new high in 15 months in July as people expect the National Council for Peace and Order (NCPO) could improve the country’s economy.
Ampawan Pichalai, director of the Commerce Ministry Trade Policy and Strategy Office, said a survey of 3,343 consumers nationwide showed that the confidence index in July was at 41.4, rising from 38.4 in June.
The index was the highest in 15 months.
The forecast index for consumers’ confidence in the next three months was at 45.4. The index remains below 50 and showed that people still have economic concerns.
Although the overall national situation has improved, most people worry about the cost of living.
Spending on consumer products drops. People are more careful about their spending. Household debt is likely to grow.
Farmers’ incomes decrease as rice cultivation costs rise. Rice prices are low, and the prices of rubber and palm oil also are in decline.
If the situation continues, household debt will steadily grow.
Meanwhile, uncertain global economic recovery affects the economy and export of Thailand.
Consumers’ income expectation in the next three months was better than the previous month, due to the national administration by the NCPO and economic stimulation measures.