Consumer confidence rose for a second straight month in November, as concerns eased after last month's anti-government protest fizzled out and October exports climbed at the fastest pace in more than a year.
The consumer confidence index rose to 79.1 points last month from 77.8 in October and 77 in September, according to a survey by the University of the Thai Chamber of Commerce's Center for Economic and Business Forecasting.
However, a score of less than 100 points indicates consumers are more pessimistic than optimistic about export prospects, the high cost of living, domestic political uncertainty and the global economic outlook.
A reading above 100 indicates they expect conditions to improve.
The centre asked 2,247 respondents how they saw domestic economic conditions and what factors affected their views.
October exports rose in value by 15.6% year-on-year to US$19.5 billion, while the Nov 24 anti-government rally in Bangkok ended amid a low turnout amid heavy rains.
The survey also found confidence in new-car purchases remained above the 100-point level for the eighth straight months, at 107.4 points.
People see this as a good time to buy a new car because of the annual motor show as well as the tax rebate under the government's first-time car buyer scheme.
Centre head Thanavath Phonvichai said consumer confidence should see a clearer recovery in next year's first quarter if the global economy starts recovering and no further political conflicts occur domestically.
Nonetheless, he said some negative factors will remain.
These include forecasts for lower economic growth and higher retail oil prices, inflation worries and concern over employment prospects after the daily minimum wage jumps to 300 baht nationwide on Jan 1.
About the author
- Writer: Phusadee Arunmas
Position: Business Reporter