UTCC: April consumer mood at 40-month high
published : 2 May 2018 at 14:20
Thailand's consumer sentiment rose for a second straight month in April to its highest in 40 months, boosted by strong exports and tourism, but global trade tensions and low farm prices remained a concern, a survey showed on Wednesday.
The index of the University of the Thai Chamber of Commerce (UTCC) rose to 80.9 in April from 79.9 in March, the university said in a statement.
However, consumers still felt the economic recovery was slow and not broad-based and could hold back on spending, the UTCC said.
The daily minimum wage was increased nationwide in April.
Private consumption accounts for half of Southeast Asia's second-largest economy, but has been crimped by high household debt, which is about 78% of gross domestic product.
However, strong exports and tourism will continue to underpin economic growth this year. The Finance Ministry has forecast growth of 4.2%, after last year's 3.9%, the fastest pace in five years.