Consumer confidence at 5-month high over reopening

Consumer confidence at 5-month high over reopening

Consumer confidence rose for a second straight month in October, hitting a five-month high, thanks to an easing of coronavirus curbs and a larger reopening of the country's troubled tourism sector, a survey showed on Thursday.

The consumer index of the University of the Thai Chamber of Commerce increased to 43.9 in October from 41.4 in the previous month, the university said in a statement.  

"Consumers had some hope that the economy would recover in future," university president Thanavath Phonvichai told a briefing.

Sentiment was also lifted by government stimulus measures amid weak consumption, he said, adding the government would need to inject at least 500 billion baht ($15 billion) next year to get economic growth of more than 4%.

This year, the economy might grow by 1% to 1.5%, with an expected contraction of 3% to 4% in the third quarter due to the curbs, Mr Thanavath said. Last year, the economy shrank 6.1%.

A separate survey by the Federation of Thai Capital Market Organizations (FETCO) showed its investor confidence index in October rising by 18.2% to a record high of 168.69.

The index, which projects confidence in the market over the next three months, moved to the "very bullish" zone, with tourism revival seen as the most supportive factor, the FETCO said in a statement.

Do you like the content of this article?

Heavy rain, flooding in Surat Thani

SURAT THANI: Military and civilian teams helped people move their possessions to higher ground after villages in three districts were hit by flash floods caused by heavy rain on Monday night.


114 car dealers face tax evasion case

The Department of Special Investigation is coordinating with the Department of Land Transport to take legal action against 114 luxury car importers who were found to have evaded paying taxes on 854 imported cars.


Sex shops offer Brazil's Evangelicals a taste of heaven

RIO DE JANEIRO: Sometimes, she disguises her merchandise as medication, or as a bakery delivery. Whatever the packaging, Andrea dos Anjos knows discretion is key when Brazil's emerging Evangelical sex shops send erotic products to their clients.