Thai consumer confidence rises

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Thai consumer confidence rises  
Bangkok Post: 8 Oct 2009
www.bangkokpost.com/business/economics/156451/september-cci-rises-to-68-4

September CCI rises to 68.4
The consumer confidence index (CCI) for September went up to 68.4 from the 67.4 reported a month earlier, the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce reported on Thursday.

The month’s job opportunity confidence index was 67.3 and the future income confidence index stood at 91.0, according to the centre.

“All confidence indices have improved for four consecutive months on the back of positive factors -- the decline in global oil prices, the baht's appreciation and the projection by the Fiscal Policy Office that the economy would expand by 3.3 per cent next year,” the director, Thanawat Polwichai, said.

He said worries about political uncertainty, the forecast by the FPO that gross domestic product would shrink by three per cent, the export contraction in August and concerns about the high cost of living were negative factors that prevented the confidence indices from surging higher.

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Consumer confidence rises in Thailand 
Bangkok Post: 9 Dec 2009
Confidence revives again in November

But consumers see recovery as fragile

Thai consumer confidence rose in November after falling a month earlier, lifted by improved exports and the prospects of economic recovery.

But consumers are still worried about a high cost of living, political uncertainties and a fragile economic recovery, said Thanavath Phonvichai, an economist at the University of the Thai Chamber of Commerce (UTCC).

The Consumer Confidence Index rose to 76.5 last month after falling in October for the first time in five months to 75.4 due to political uncertainty, delays in large industrial projects and high oil prices.

According to Mr Thanavath, hopes have risen after the National Economic and Social Development Board (NESDB) reported economic data that were better than expected, while gasoline and diesel prices have stabilised.

The economy grew by 1.3% in the third quarter from the previous quarter. The NESDB revised its full-year forecast to a 3% contraction for 2009 _ GDP had fallen 7.1% in the first quarter _ with growth of 3% to 4% for 2010.

Consumer sentiment was also lifted by the progress made by the government in implementing economic stimulus projects, a new farm income guarantee programme, and efforts to tackle underground debts.

Steady inflows of foreign funds to the stock market and an increase in the baht also raised consumer expectations.

The Thai baht has appreciated by about 0.6% against the US dollar in the past month and has gained 5.0% so far this year.

In the survey of 2,242 respondents nationwide, the scores edged up from August for the economy to 69.1 from 68.0, job opportunities to 67.8 from 66.9, and future income to 92.6 from 91.1.

Despite better confidence in November, Mr Thanavath warned that consumer confidence remains fragile as consumers are still worried about high costs of living due to increased product prices, political protests, and the Map Ta Phut industrial estate suspensions because of environmental concerns.

Uncertainty about the strength of the global economic recovery, particularly in light of the Dubai World debt problems and Vietnam's dong devaluation, have also weakened confidence in the longer-term outlook, he added.

Writer: Phusadee Arunmas

www.bangkokpost.com/business/economics/28925/confidence-revives-again-in-november