Consumer’s confidence index grows three months in a row

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Consumer’s confidence index for the month of September increased to 74.2, representing an increase for the third month in a row and the highest in six months, according to the survey result of the economic and business forecast centre of the University of Thai Chamber of Commerce.

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Thanawat Pholvichai, director of the centre, said Thursday that consumers started to become more confident as evident in the increasingly economic recovery and improvement of social and political atmosphere coupled with the expectation that the government will spend more in investments and in stimulus packages during the last quarter of the year.

Consumer’s confidence in the economy for the month of September was registered at 63.4 points compared to last month’s 62.2 points, representing an increase for the third month in a row while confidence in job opportunities was registered at 68.6 points and confidence index in future income was registered at 90.7 points.

Thanawat pointed out that consumer’s confidence in political situation increased for the fourth month in a row, representing the highest in 11 years and five months. This shows that the people believe that political situation will be more stable and, as a result, local and foreign investors will stage a comeback to invest.

Happiness index was measured at 89.2 points, representing the highest in nine months.

As for the current flood situation, Thanawat said the general perception was that the situation was not serious and the damage would be manageable as it was confined in non-economic area.

Damage from flood this year will not exceed one billion baht and will have very little impact on the economic growth – as little as 0.05 percent.