July consumer sentiment picking up

July consumer sentiment picking up

Sale signs are seen at a department store in Lat Phrao area in Bangkok in mid-July. (Bangkok Post file photo)
Sale signs are seen at a department store in Lat Phrao area in Bangkok in mid-July. (Bangkok Post file photo)

Consumer confidence picked up for the first time in seven months in July, a university survey showed on Thursday, due to improved economic and job conditions and higher commodity prices.

The July index rose 72.5 compared to 71.6 in June, 72.6 in May and 72.7 in April. An index below 100 indicates an overall lack of confidence.

Consumers were hoping the government would focus on spending and investment to boost the economy in the second half, the said.

The army, which seized power in May 2014 to end months of political unrest, has struggled to revive Southeast Asia's second-largest economy as exports and domestic demand remain weak.

In a bid to lift domestic activity, the junta has introduced stimulus measures and ramped up investment.

The central bank said on Wednesday the economy could still grow 3.1% this year as forecast, but risks have increased. The economy expanded 2.8% last year.

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