Thailand's consumer confidence hits 42-month high in September-Xinhua

Thailand's consumer confidence hits 42-month high in September

Source: Xinhua

Editor: huaxia

2023-10-09 19:43:15

BANGKOK, Oct. 9 (Xinhua) -- Thailand's consumer confidence index (CCI) reached a 42-month high in September due to government cost-of-living support measures and stimulus policies, a survey showed on Monday.

According to the University of the Thai Chamber of Commerce (UTCC) survey of 2,244 respondents across the country, the CCI rose to 58.7 last month from 56.9 in August as all components of the index improved for the second month.

The September figure was mainly attributed to lower living costs as a result of the government's energy and gasoline price cuts and increased domestic consumption on the back of tourism recovery and tourist visa exemption scheme, said UTCC President Thanavath Phonvichai.

Consumers' willingness to spend on tourism has returned to normal after easing concerns over the COVID-19 pandemic and economic uncertainties, a positive sign for the country's growth outlook, Thanavath told a news conference.

He also noted that the CCI is expected to see an ongoing improvement due to political stability following the establishment of the new government, which has proposed immediate measures to stimulate the economy.