The consumer confidence index rose for the second month this year in November, to 74.6 from 73.4 in October, on expectations of economic recovery.
The University of the Thai Chamber of Commerce (UTCC) on Thursday announced the result of its survey of about 2,200 people nationwide. The chamber concluded that consumers were increasingly optimistic the economy would recover with the help of the government's economic stimulus.
The UTCC said consumption should start to rise late in the fourth quarter of this year, the economy begin to noticeably recover in the first quarter of next year, and return to normal growth in the third quarter of next year.
The university also expected 13 billion baht to change hands during the Father's Day long weekend starting with the King's birthday on Saturday. Spending could be up by as much as 45% this year due to the three-day weekend, it said.
The UTCC listed the positive economic factors as stimulus measures, lower oil prices and the repurchase rate being held at 1.5%. Negative factors were the terrorist attacks in France, conflict between Russia and Turkey, weak Thai exports, low prices for farm products, the baht's depreciation and the high cost of living.