The overall consumer confidence index rose to 80.1 in October from 79.2 in September, an improvement attributed to the government's economic stimulus measures for the fourth quarter, the University of the Thai Chamber of Commerce (UTCC) reported on Thursday.
Buyers stock up at a state-run discount trade fair in Bangkok in September. (Photo by Somchai Poomlard)
Thanawat Polvichai, director of the university's Centre for Economics and Business Forecasting, said a survey found consumers believed the economic stimulus measures of the government would improve the national economy. This referred to the government's plan to spend 360 billion baht in the fourth quarter of this year.
Other positive factors that helped raise consumers' confidence in October were lower oil prices and higher Thai exports in September.
Mr Thanawat said respondents remained worried about declining farm product prices, the high cost of living and the uncertain world economy.
He said that the Thai economy should expand by 1.3-1.5% this year and 4-5% next year as the government was speeding up its investment projects.
It was anticipated inflation would be 2.3-2.8% and exports would grow by 3.5% next year.
The survey also found confidence in job opportunities rose from 72.9 in September to 73.8 in October and confidence in future income increased from 95.5 to 97.0.