ID :
200691
Thu, 08/11/2011 - 14:13
Auther :
Shortlink :
http://m.oananews.org//node/200691
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Thai consumer confidence index peaks in 64 months
BANGKOK, August 11 (TNA) - The consumer confidence index in Thailand has risen for the third consecutive month in July to 84.1 points from 81.7 points in June.
Thanavath Phonvichai, Director of the Economic and Business Forecasting Center, University of the Thai Chamber of Commerce, reported the figures on Thursday, noting the July index peaked over a 64-month period from the figure recorded since March 2006.
In addition, the index of consumer confidence in future incomes soared to 102.8 points.
Thanavath attributed the strong upward movement to public expectation over the ability of the new government to stimulate national economy.
He claimed without any future unrest in the country, the spending and investment climate here would recover by the fourth quarter of this year, and the Thai economy would thus grow by 4-5 percent by the year-end.
The business forecasting center chief noted however, most people were still concerned about the rising costs of living and oil prices, and economic uncertainties in the U.S. and European countries.
Meanwhile, deputy chairman of the Thai Chamber of Commerce Pongsak Assakul said the Chamber was ready to cooperate with the new government, and believed the new economic team was knowledgeable and capable of supporting economic development.
He urged the government to tackle corruption and inequality, enhance the country’s competitiveness, prepare measures to deal with short-term fluctuations and volatile movement of foreign funds, besides stabilizing the Thai baht. (TNA)
Thanavath Phonvichai, Director of the Economic and Business Forecasting Center, University of the Thai Chamber of Commerce, reported the figures on Thursday, noting the July index peaked over a 64-month period from the figure recorded since March 2006.
In addition, the index of consumer confidence in future incomes soared to 102.8 points.
Thanavath attributed the strong upward movement to public expectation over the ability of the new government to stimulate national economy.
He claimed without any future unrest in the country, the spending and investment climate here would recover by the fourth quarter of this year, and the Thai economy would thus grow by 4-5 percent by the year-end.
The business forecasting center chief noted however, most people were still concerned about the rising costs of living and oil prices, and economic uncertainties in the U.S. and European countries.
Meanwhile, deputy chairman of the Thai Chamber of Commerce Pongsak Assakul said the Chamber was ready to cooperate with the new government, and believed the new economic team was knowledgeable and capable of supporting economic development.
He urged the government to tackle corruption and inequality, enhance the country’s competitiveness, prepare measures to deal with short-term fluctuations and volatile movement of foreign funds, besides stabilizing the Thai baht. (TNA)
