BANGKOK, Aug. 13 (Xinhua) -- Thailand's consumer confidence improved for a second straight month in July, bolstered by lower domestic fuel prices amid easing Middle East tensions and government economic stimulus measures, a survey showed on Thursday.
According to a survey of 2,244 respondents conducted by the University of the Thai Chamber of Commerce, the consumer confidence index increased to 51.8 last month from 50.7 in June, as all components of the index picked up.
Despite the uptick, readings below 100 indicate that consumers perceive a slow economic recovery and high living expenses, with geopolitical tensions continuing to dampen sentiment, the university said in a statement.
However, stronger prices for key agricultural commodities, which have surpassed levels recorded last year, provided a psychological boost to sentiment and strengthened rural household purchasing power, said Thanavath Phonvichai, president of the university.
Thanavath said public perception of political stability remained intact, which has encouraged consumers to continue spending. Meanwhile, the cost of living gradually declined due to support from the government's co-payment scheme.
Looking forward, he noted that the government's energy restructuring roadmap and accelerated budget disbursements are likely to sustain investment momentum into the 2027 fiscal year beginning in October.
Coupled with a gradually recovering tourism sector, consumer confidence is projected to enter a clear upward trend, peaking with strong year-end spending in the fourth quarter of this year, he told a news conference. ■
