Thai consumer confidence rose in December to the highest level in 46 months with a boost by government measures and tourism.
According to the consumer index of the University of the Thai Chamber of Commerce, confidence in the country increased to 62.0 in December from 60.9 the previous month, the university said in a statement.
Consumers’ confidence bounced back following the establishment of the government, with supporting measures to ease cost of living, including a reduction of electricity charges and oil prices, as well as a number of economic stimulus measures. Consumers also recognized the country’s rise of stability in the near future after the said establishment drove away conflicts among people with different political ideologies.
Meanwhile, the negative factors are as follows:
Consumers are still concerned about the slowed global economy, the prolonged war in the Middle East, and the rise of policy interest rates to resolve problems regarding inflation around the world, as it could pressure the global economy to face recession. The said circumstance will result in negative effects on the export of Thailand and the purchasing power of consumers across the country.
However, the index still maintains itself at a normal level of 100, signalling the lack of confidence in the economy, career opportunities, and future income for consumers, as they raise concerns on the political situation in the country. Energy prices and costs of living remain high, along with problems in the global economy, which is at risk of recession. This will cause the recovery of Thailand’s economy and job employment to slow down, leading to the high level of uncertainty for consumers’ income.
