Thailand’s Consumer Confidence Index rose in October

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BANGKOK, Nov 6 —   The Thai Chamber of Commerce University’s Economic and Business Forecasting Centre announced that the country’s Consumer Confidence Index in October stood at 80.1, rising from 79.2 in September.

Centre 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 the increasing export in September.

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

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

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

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