ID :
132085
Thu, 07/08/2010 - 20:13
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http://m.oananews.org//node/132085
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Thai consumer confidence index rises in June: UTCC Poll
BANGKOK, July 8 – Thailand’s consumer confidence index (CCI) rose for the second consecutive month to 77.1 from 75.5 in June as the recent political turmoil has eased, according to a leading economic forecaster.
Director Thanawat Palavichai of the University of the Thai Chamber of Commerce (UTCC) Economic and Business Forecasting Center explained that the released CCI’s score remains below 100 for the 71st consecutive month, indicating that consumers still have concerns about the overall situation, particularly the fragile political situation which affects the country’s economic recovery.
Meanwhile, the confidence index for the overall economy climbed to 69.1 in June from 67.6 in May. The CCI on job opportunities was up to 68.2 and on future incomes to 92.1.
The rise in the index in all categories marked its first improvement in the past four months, Dr Thanawat said, because consumers hoped that the situation would be better after the recent political violence.
Dr Thanawat predicted that the consumer confidence index is likely to gradually improve as the current political situation is not approaching volatility, helps restore the consumer confidence and boosts consumer spending.
In addition, spending during the 2010 FIFA World Cup, the government’s economic stimulus scheme -- the ‘Thai Khem Khang’ (Strong Thailand) plan -- and measures for low-income earners are also stimulating the growth of the consumer confidence index.
However, he noted that most consumers lack confidence in the country’s political situation seeing no political stability in sight as reflected in an opinion index related to the Thai political situation in June which was lower than in March.
Meanwhile, UTCC's Economic and Business Forecasting Center projected that the Thai economy in 2010 is likely to grow in a range between 4.5- 5.2 per cent.
The Thai economy could expand 6 per cent this year given that the overall political situation improves better than expected, the national reconciliation road map takes shape and become clearer, economic crisis in Europe not exacerbates, improve, Dr Thanawat said.
The 6 per cent economic growth is likely to rise on the assumption that crude oil prices stay at US$80 per barrel, exports grow 17 per cent, inflation stands at 3.5 per cent and the baht remains at 32 against the US dollar, he added.
Dr Thanawat said the country's policy interest rate is likely to edge up by 0.5- 0.75 per cent as incoming Bank of Thailand (BoT) Governor Prasan Trairatvorakul has expressed confidence Thai economy is likely to expand 6 per cent and Thailand's interest rate may increase to 2 per cent. (MCOT online news)
Director Thanawat Palavichai of the University of the Thai Chamber of Commerce (UTCC) Economic and Business Forecasting Center explained that the released CCI’s score remains below 100 for the 71st consecutive month, indicating that consumers still have concerns about the overall situation, particularly the fragile political situation which affects the country’s economic recovery.
Meanwhile, the confidence index for the overall economy climbed to 69.1 in June from 67.6 in May. The CCI on job opportunities was up to 68.2 and on future incomes to 92.1.
The rise in the index in all categories marked its first improvement in the past four months, Dr Thanawat said, because consumers hoped that the situation would be better after the recent political violence.
Dr Thanawat predicted that the consumer confidence index is likely to gradually improve as the current political situation is not approaching volatility, helps restore the consumer confidence and boosts consumer spending.
In addition, spending during the 2010 FIFA World Cup, the government’s economic stimulus scheme -- the ‘Thai Khem Khang’ (Strong Thailand) plan -- and measures for low-income earners are also stimulating the growth of the consumer confidence index.
However, he noted that most consumers lack confidence in the country’s political situation seeing no political stability in sight as reflected in an opinion index related to the Thai political situation in June which was lower than in March.
Meanwhile, UTCC's Economic and Business Forecasting Center projected that the Thai economy in 2010 is likely to grow in a range between 4.5- 5.2 per cent.
The Thai economy could expand 6 per cent this year given that the overall political situation improves better than expected, the national reconciliation road map takes shape and become clearer, economic crisis in Europe not exacerbates, improve, Dr Thanawat said.
The 6 per cent economic growth is likely to rise on the assumption that crude oil prices stay at US$80 per barrel, exports grow 17 per cent, inflation stands at 3.5 per cent and the baht remains at 32 against the US dollar, he added.
Dr Thanawat said the country's policy interest rate is likely to edge up by 0.5- 0.75 per cent as incoming Bank of Thailand (BoT) Governor Prasan Trairatvorakul has expressed confidence Thai economy is likely to expand 6 per cent and Thailand's interest rate may increase to 2 per cent. (MCOT online news)
