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PHUSADEE ARUNMAS
Consumer confidence rose in July for the first time in four months as easing oil prices and the government's anti-inflation measures to assist the poor helped improve sentiment.
The Consumer Confidence Index (CCI), based on a survey of 2,244 respondents nationwide, climbed to 78.9 from 78.0 in June, 78.8 in May and 79.9 in April, and compared with 80.7 in March, according to the monthly survey by the University of the Thai Chamber of Commerce (UTCC).
The government announced on July 15 a plan to cut excise taxes for fuel, offer free electricity and water to low-use households, and waive fares for cheap bus and train seats in a six-month programme that will cost 46 billion baht. The measures aim to reduce the burden of low-income earners and ease inflationary pressure.
UTCC economist Thanavath Phonvichai said improvements were shown last month in all indices measuring public attitudes on future economic prospects, future income and job opportunities.
The CCI is a set of indices measuring sentiment with regard to the overall economy, job opportunities and future income. A score of 100 is the norm. The index has been below 100 for 49 months.
The indices for the overall economy, job opportunities and future income in July rose to 71.8, 72 and 93, respectively from 70.8 , 71.1 and 92 in June.
Mr Thanavath said that while sentiment was improving, concerns about the high cost of living still remained.
''It is still too early to make conclusions about the long run,'' he said. ''Confidence will be better if oil prices ease, politics stabilise and the Thai economy grows.''
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