Consumer confidence up again in Thailand

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Consumer confidence up again in Thailand 
Bangkok Post: 11 Feb 2011
Consumers positive on income prospects

The consumer confidence index rose for the second consecutive month in January to stand at 81.5 points as people were upbeat about rising income expectations in the future.

Confidence in the overall economy stood at 72.6 points, up from 71.9 in December, according to the Economic and Business Forecasting Center at the University of the Thai Chamber of Commerce (UTCC).

Confidence in job opportunities rose to 72.8 points from 72, while confidence in future income rose to 99.2 from 98.7.

Thanavath Phonvichai, the centre's director, said that despite ongoing political rallies and the border skirmish since late January, consumers were still confident the economy would improve and their income would increase, especially farm prices. They were also upbeat about the rising minimum wage.

Risk factors remain high oil prices and a possible prolonged border clash that may affect future confidence.

Domestic consumption is projected to expand 3-4% this year while economic growth is forecast at 4-5%.

http://www.bangkokpost.com/business/economics/220962/consumers-positive-on-income-prospects