December Consumer Confidence Index rise first in four months


BANGKOK, Jan 5 – Thailand’s Consumer Confidence Index (CCI) rose in December for the first time in four months, following the end of the flood crisis, according to the commerce ministry.

Yanyong Puangrach, Permanent Secretary for Commerce, announced the results of a survey on consumer confidence among 3,250 people throughout the country.

On a scale ranging from 0 to 100, the Consumer Confidence Index in December rose to 21.4 from 18.5 in November, its first increase in four months since the flood crisis began in late July.

All consumer confidence indices relating to the economic and business situation, future income and job opportunities have risen, indicating strengthening confidence after the flood.

The public is now spending more on buying consumer goods and electrical appliances but have no plan to buy new cars in the next six months, seen in the low index of 8.8. However, consumer confidence remained low as the index was below 50. Most people are still concerned over commodity and oil prices and the cost of living, Mr Yanyong said.

Factors that will help boost consumption are the civil servants salary rise from January onwards, post-flood rehabilitation, expenditures during the Chinese New Year, he said.

The public want the government to help cap prices of consumer goods and solve unemployment, low wage problems and to regain investors’ confidence.

They also want the government to expedite rehabilitating flood victims, leading the economy to recovery, and determining clear flood response and management plans.

He said the commerce ministry’s Internal Trade Department will oversee consumer goods prices as demanded by the public, according to the survey.