Consumer confidence increases in October, highest in five months

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By Namo Vananupong

   

BANGKOK (NNT) - The government’s measures to stimulate the economy, relax Covid restrictions and keep the diesel price from exceeding 30 baht per liter have positively influenced the consumer confidence index for October 2021, which stands at the highest level in 5 months.

 

University of the Thai Chamber of Commerce President Thanavath Phonvichai explained that consumer and business confidence were now improving because of higher numbers of foreign tourists and the relaxation of restrictions on various businesses, especially those to do with nightlife. Said relaxation will benefit night markets and vehicles for hire.

 

Year-end celebrations are expected to usher in more spending by consumers, while the government’s latest measures to stimulate the economy – notably, the 100 billion baht of money that would circulate because of the Co-pay program – and economic effects of the local administrative organization election were all positive factors that would enable the economy to expand by 4% in the final quarter of 2021.

 

Asst. Prof. Thanavath said the whole year’s economic growth was being maintained at 1-1.5%. He added that the government should push for the economy to expand by no less than 5% in 2022, and government measures to stimulate the economy will remain necessary.

 

He suggested that no less than 500 billion baht will be needed for stimulating the economy in the first half of 2022, adding that no additional borrowings will be needed by the government if the target of receiving 10 million foreign tourists is realized and exports are able to expand by 7-10%.

 

-- © Copyright NNT 2021-11-05

 

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[hotchilli]

As a consumer I notice the price of many daily commodities rising.. 

I have no confidence.

[steven100]

I am confident that prices at my 7-11 keep rising when i'm not looking ....

[ThailandRyan]

29 minutes ago, hotchilli said:

As a consumer I notice the price of many daily commodities rising.. 

I have no confidence.

Inflation has hit. Vegetable prices have nearly doubled in the past few weeks.  How will the lower class pay for the food needed to survive without help.

[trainman34014]

'Consumer Confidence Returns '.   Laughable; how come whenever i go into a Supermarket these days it is often like a Ghost Town and now we are faced with empty Fruit+Veg' racks.    Prices are rising in almost all area's and Wife's relatives in Market and Retail Work all say sales are down and not many people around !

[ThailandRyan]

3 minutes ago, trainman34014 said:

'Consumer Confidence Returns '.   Laughable; how come whenever i go into a Supermarket these days it is often like a Ghost Town and now we are faced with empty Fruit+Veg' racks.    Prices are rising in almost all area's and Wife's relatives in Market and Retail Work all say sales are down and not many people around !

Out for our wake this evening in Sathorn, could not believe how busy this Friday was compared to last Friday. Folks outside the Irish pub eating and drinking, it was full, and then the other restaurants serving alcohol and food were also packed. What a difference a week makes here in BKK. Nice to see the life return.  However, Patpong was shuttered.....lol