Thailand’s Consumer Confidence Index rose in October

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The Thai Chamber of Commerce University’s Economic and Business Forecasting Center announced that the country’s Consumer Confidence Index in October stood at 80.1, rising from 79.2 in September.

Center director Thanavath Phonvichai said the increase resulted from the government’s economic stimulus measures worth Bt360 billion for the fourth quarter of this year, lower oil prices, and increases in exports in September.

However, consumers were still worried about the low prices of farm products, the cost of living that remained high and the uncertainty of the global economy.

The center predicts that the Thai economy will grow by 1.3-1.5 percent this year and 4-5 percent next year due to government investment projects.

However, Dr Thanavath said, the unfolding global economic situation would be an important factor.

He projected that inflation would run between 2.3-2.8 percent and exports would grow by 3-5 percent next year.