August consumer mood up for a second month

August consumer mood up for a second month

A fruit vendor does a brisk trade in Bangkok's Silom area. (Photo by Nittaya Nattayai)
A fruit vendor does a brisk trade in Bangkok's Silom area. (Photo by Nittaya Nattayai)

Consumer confidence rose for a second straight month in August, accordng to a survey by the University of the Thai Chamber of Commerce released on Thursday

Consumers thought the fading impact of the long drought coupled with an increase in farm prices helped  boost purchasing power, the UTCC said.

The overall consumer confidence index stood at 73.2 points in August, up from 72.5 in July. The overall index reflects views on the economy, job opportunities and future income. Below 100 means consumers still lack confidence.

In July, the consumer mood improved for the first time in seven months. The military government has struggled to revive Southeast Asia's second-largest economy, with exports and domestic demand still sluggish. 

The Bank of Thailand said last Friday the economy expanded at a slower pace in July. It is due to review its 2016 growth forecast of 3.1% later this month.

Do you like the content of this article?
COMMENT