Consumer Confidence up for the first time in three months

[webfact]

Consumer Confidence up for the first time in three months
Praphorn Praphornkul

   

BANGKOK (NNT) - Consumer confidence has seen a hike on the back of COVID-19 vaccination clarity and economic stimulus measures, leading to the belief the economy could grow 3 percent this year.

Director of the University of the Thai Chamber of Commerce and President of the Economic and Business Forecasting Center Thanawat Polvichai, has advised that consumer confidence in February 2021 rose to 49.4 points, moving up for the first time in three months in a reflection of improving consumption fueled by a drop in the number of COVID-19 infections in the nation and the start of vaccinations in the Kingdom and globally.

Government stimulus measures such as the co-pay scheme and Rao Chana have also fostered buying, raising the price of agricultural goods such as Para Rubber, palm oil and animal maize.

Economic expansion in the first quarter of this year is now expected to be a negative 1-2 percent with positive 1-2 percent growth expected in the second quarter and 3 percent growth for the year.

The economist gave his opinion that even more clarity should be provided on how vaccinations are to be distributed as well as on plans to reopen the nation to international tourism in the fourth quarter, in time for the high season. He similarly called for clarity on the Vaccine Passport and urged local administrations to expend funds to spur regional circulation.

It was suggested that the government continue supporting consumption with a third phase of the co-pay scheme and spur domestic travel by staging seminars and workshops in the provinces on weekdays, which would make up for lost tourism revenue.

 

-- © Copyright NNT 2021-03-12

 

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[webfact]

Thai consumer mood picks up as virus outbreak eases

FILE PHOTO: Two customers are separated by a plastic screen as they sit together at a table in a shopping center, after the Thai government eased isolation measures, amid the coronavirus disease (COVID-19) outbreak, in Bangkok, Thailand May 27, 2020. REUTERS/Jorge Silva

BANGKOK (Reuters) - Thai consumer confidence increased for the first time in three months in February, bolstered by an easing coronavirus outbreak, government stimulus and the distribution of vaccines, a survey showed on Thursday.

The consumer index of the University of the Thai Chamber of Commerce rose to 49.4 in February from 47.8 in the previous month.

(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Ed Davies)

-- © Copyright Reuters 2021-03-12
 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

[RichardColeman]

1 hour ago, webfact said:

spur domestic travel by staging seminars and workshops in the provinces on weekdays, which would make up for lost tourism revenue.

Sigh, I give up.

[sammieuk1]

Right Up the u bend is all I can think the director realistically means ????

[Knocker33]

Clarity on the vaccination program. I think they will have rewrite that