Consumer confidence rose for a fourth straight month in January, hitting a 16-month high, as concerns about global and domestic economic prospects eased and people's incomes rose thanks in part to the nationwide daily minimum wage hike, says a local economist.
Thanavath Phonvichai, vice-president for research and director of the University of the Thai Chamber of Commerce, attributed the rise to purchasing power jumping following the wage hike and the government's rice pledging scheme.
The consumer confidence index climbed to 81.7 points last month from 80.2 in December, 79.1 in November and 77.8 in October. The overall economic index came in at 72.1 points, up from 70.6 in December, while the index for job opportunities registered at 72.9 points, up from 71.7.
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