The consumer confidence index (CCI) for February was up from 81.7 reported in January to stand at 84.0, Thanavath Phonwichai, director of the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce, said on Thursday.
Mr Thanavath said his centre’s recent surveys showed that consumer confidence had risen for five straight months and was at its highest level in 19 months, since August 2011.
Consumer confidence on the overall economy for the month stood at 74.3, on job opportunity at 75.5 and at 102.2 on future income, he added.
He attributed the increase in consumer confidence to the announcement by the National Economic and Social Development Board that gross domestic product growth for the fourth quarter of last year was as high as 18.9%, the highest in history.
The central bank’s monetary policy committee’s decision to maintain the key policy rate unchanged at 2.75%, the 16.1% export expansion in January, the baht’s appreciation, the 300 baht daily minimum wage nationwide policy and the continuing government stimulus measures were also factors behind the improvement in consumer confidence.
The negative factors that eroded consumer confidence included an increase in domestic retail prices of fuel, a concern over the possible energy crisis in April 5-14 due to the disruption of the natural gas supply from Myanmar, worries over the baht's rapid appreciation, and the high cost of living.