Govt stimuli push TCC-CI up for 7-months in a row

 

 

   

BANGKOK (NNT) - The University of the Thai Chamber of Commerce (UTCC) has just released their Confidence Index (TCC-CI) for November 2020, which shows growth for the 7th consecutive month, thanks to the government’s COVID-19 economic stimuli.

 

The UTCC’s TCC-CI for November 2020 was reported at 33.7 points, higher than the previous month at 33.2. This improved confidence has been assessed by the UTCC as being due to the government’s 50:50 co-pay campaign, which helped to encourage more spending by the general public, leading to more revenue for vendors.

 

The latest TCC-CI reflects positively on the news of the extension of the government’s economic stimulus campaigns, however the score remains relatively low, as business owners remain cautious over the possibility of the next wave of COVID-19 cases in Thailand, as new domestic cases has been reported recently from persons flouting immigration and quarantine rules.

 

Mr. Thanawat Phonwichai, the UTCC’s President and chief advisor to the university’s Center for Economic and Business Forecasting (CEBF), said these situations are causing short-term concerns among businesses, which should not last until the New Year Holidays.

 

He said the CEBF expects this New Year holiday to generate some 130-150 billion baht in cashflow, a similar figure to last year’s record of 140 billion baht.

 

The CEBF is recommending that the government adopt a proactive approach to the prevention of the new wave of COVID-19 cases in Thailand, in order to minimize or even prevent domestic spread of the disease, which will help minimize the effect to the tourism sector.

 

The center predicts the number of travelers this year will fall by 10-20 percent compared to the previous year.

 

-- © Copyright NNT 2020-12-10

 

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What utter nonsense there is on confidence in this government or anything connected to it hence the mass daily protests????

Only confidence of the masses was knowing they could spend 150 baht to feed themselves and not starve.  Soup kitchens might work better along with some homeless shelters.  Under the Over cross and under the bridge just outside the Saphan Taksin BTS station yesterday I saw a half dozen older men with clothing, food, and personal effects sleeping on the cement benches.  Appears they have no place to go or family to care for them.  Very unkempt looking and very sad. Homeless population is growing.