The consumer confidence index was at a 115-month high in September, but still remained below the crucial 50-point level, according to a survey result released on Tuesday.
A family enjoys shopping at a discount produce fair in Bangkok in late September. (Photo by Somchai Poomlard)
The overall consumer confidence index in September stood at 45.8, compared with 44.0 in August, Ampawan Pichalai, commercial adviser at the Ministry of Commerce, said on Tuesday.
It rose for the fourth consecutive month and was at its highest level in 115 months, or nine years and seven months.
The Ministry of Commerce based the index on its survey of 3,167 consumers nationwide. They were asked about their economic condition, income and job opportunities.
Mrs Ampawan said that despite the increase, the confidence index still remained below 50 and reflected that people had no confidence in the national economy.
They were concerned about the cost of living, the economic slowdown, higher unemployment, the slow recovery of tourism, damage to property caused by torrential rain, and the global economic slowdown that affected Thai exports.
Respondents hoped the new government would quickly disburse the 2015 budget to stimulate the national economy and take steps to solve the economic problems of farmers and people in general.
The index showing consumers' future income expectation was at its highest level in 20 months and stood at 53.3 in September.
The index was above 50 and showed consumers had started to have confidence in their future income and hoped the new government could solve economic problems, Mrs Ampawan said.
However, surveyed consumers were still reluctant to buy electrical appliances and automobiles in the next six months, as the cost of living made it difficult to make ends meet and many families were in debt, she said.