BANGKOK, Sept. 8 (Xinhua) -- Thailand's consumer confidence rose for a third straight month in August, supported by easing concerns over the Middle East conflict, stabilizing fuel prices, and continued government stimulus measures, a survey showed on Tuesday.
According to a survey of 2,240 respondents conducted by the University of the Thai Chamber of Commerce, the consumer confidence index increased to 53.2 last month from 51.8 in July, reaching its highest level in six months, as all components of the index improved.
Higher prices for key agricultural products, compared with a year earlier, also helped lift sentiment and strengthen household purchasing power, providing a positive psychological boost to the economic recovery, the university said in a statement.
While current consumer confidence levels remain below the pre-conflict baseline recorded in February, the steady recovery reflects easing public anxieties regarding global economic volatility and energy market fluctuations, said Thanavath Phonvichai, president of the university.
Thanavath pointed to the months of September and October as critical turning points that will ultimately determine whether the Thai economy can sustain its broader recovery momentum or if it faces the risk of another systemic downturn.
Despite optimistic indicators, the downward trajectory of the K-shaped recovery highlights significant lingering vulnerabilities, particularly regarding domestic political instability and global energy shocks, as geopolitical tensions continue to pose a substantial overarching threat, he told a news conference.
Looking forward, the university expects consumers to increase spending in the fourth quarter of the year on the back of the government's stimulus programs, strong export performance, and the return of the tourism high season. ■