Consumers still optimistic about Thai economy

CONFIDENCE

Consumers still optimistic about Thai economy

Published: 8 Mar 2013 at 00.00
Newspaper section: Business

Consumer confidence rose for a fifth straight month in February, hitting a 19-month high, as consumers believe in the prospects for the economy, employment and job opportunities.

Confidence was given a big boost after the National Economic and Social Development Board reported the Thai economy expanded sharply year-on-year in the fourth quarter of 2012, up from the widespread floods in late 2011, said Thanavath Phonvichai, vice-president for research and director of the University of the Thai Chamber of Commerce.

Gross domestic product grew by 18.9% in the three months to December from a year earlier after expanding a revised 3.1% the previous quarter.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

Forum

Your comments

djay
Post : 220
Send message

Discussion 3 : 08 Mar 2013 at 08.173
Post this to my Facebook
It is obvious that the rest of the world realy needs training from Thai economists.
Like dislike 3 people liked / 1 people disliked this comment
phetpeter
Post : 707
Send message

Discussion 2 : 08 Mar 2013 at 06.522
Post this to my Facebook
Consumer confidence is up? really? Even when they find that their purchases of basic needs has risen sharply up at least 25%. Sure, credit is being given out, 900 baht down will get you a new motorbike, or Iphone, a shirt for your back, is up by 50 baht, a french loaf up from 21 baht to 32 baht, and a bottle of milk 28 baht to 42 baht! The consumer feels more confident, until they find they can't keep up with the payments...then what?
Like dislike 7 people liked / 0 people disliked this comment
boons
Post : 664
Send message

Discussion 1 : 08 Mar 2013 at 05.101
Post this to my Facebook
Surprise! If you provide a consumer with a temporary wealth-effect by increasing credit, artificially boosting wages, encouraging hot money inflows, artificially stimulating industries from rice to autos, then yes... The consumer will feel more confident.

The question is: Does the consumer understand that the good times are going to be short lived, and that they virtually guarantee an economic slowdown at a later date?

Consumers in Greece, Ireland, Spain and Iceland were wonderfully confident too. What does that tell you about consumer confidence?
Like dislike 12 people liked / 0 people disliked this comment

Consumers still optimistic about Thai economy | Bangkok Post: business