June confidence index highest in eight months



BANGKOK: -- Consumer confidence index in June increased to the highest level in eight months at 75.1, the Centre for Economics and Business Forecasting of the Thai Chamber of Commerce said on Thursday.

The centre director Thanawat Pholvichai said the 75.1 index in June was the highest since November 2013.

Political stability and improving economy all contributed to the rising consumer confidence, he said.

Consumers consumption is also expected to steadily grow in the second half of this year, he said citing the World Cup 2014 as a stimulant to increased spending, as well as rice payments for farmers’ pledged rice should also increase nationwide purchasing power.

Thanawat said consumption would be an important force that would drive the Thai economy in the second half of this year and that would enable consumer confidence to grow gradually.

He predicted economic growth this year at 2-3% and 5% next year.

Source: http://englishnews.thaipbs.or.th/june-confidence-index-highest-eight-months/


-- Thai PBS 2014-07-03

Thailand's consumer confidence index rose in June
By Digital Content



BANGKOK, July 3 -- The University of the Thai Chamber of Commerce reported that the consumer confidence index increased for the second consecutive month in June.

Thanawat Pholvichai, director of the university's Centre for Economics and Business Forecasting, said the consumer confidence index rose to 75 in June, up from 70 in May.

It was at its highest level in eight months since last November.

He attributed the rise to public confidence in political stability.

The index of consumers' confidence in politics rose to 81, which is its highest in 26 months.

Dr Thanawat also explained that the National Council for Peace and Order was curbing the cost of living by freezing cooking gas and diesel prices, the Thai economy was recovering and purchasing power was stronger nationwide as rice growers received money for their rice earlier pledged with the government.

Regarding confidence among consumers, the Center for Economics and Business Forecasting predicted that the Thai economy should grow by 2-3 per cent this year.

However, it urged continued economic stimulation measures and quick disbursement of government budgets as the spending of people in other provinces starts to lose its momentum despite the payment for pledged rice. (MCOT online news)


-- TNA 2014-07-03

Thai consumer confidence hits eight-month high

BANGKOK, July 3, 2014 (AFP) - Consumer confidence in junta-run Thailand jumped to the highest level in eight months in June after a military coup quelled political violence, a survey showed Thursday.

The University of the Thai Chamber of Commerce said its confidence index rose to 75.1 last month, up from 70.7 in May when sentiment had already improved for the first time in 14 months.

"In the past people lacked confidence in politics so they did not want to spend. They felt that politics had no future," said Thanavath Phonvichai, director of the university's Center for Economic and Business Forecasting.

The improved sentiment comes despite severe restrictions on civil liberties including a ban on public protests.

Consumers appear relieved that the May 22 military takeover has, for now at least, quelled political bloodshed in Southeast Asia's second largest economy. A rising stock market has provided further comfort.

"It is not because of the military government itself, but because stability has returned to politics quickly," Thanavath said, noting that the junta had vowed swift action to tackle economic and social problems.

The generals have unblocked funds for farmers under the ousted government's loss-making rice price guarantee scheme and they are also reviewing existing mega-infrastructure projects.

At the same time their threat to arrest illegal migrant workers sparked an exodus of tens of thousands of Cambodian migrants in a blow to labour-intensive industries from seafood to construction.

The kingdom has been dubbed "Teflon Thailand" for its record of economic resilience, helped by its enduring popularity with foreign tourists.

Nearly seven months of deadly street protests and political deadlock before the coup had dented consumer confidence and scared off visitors.

The economy shrank 2.1 percent quarter-on-quarter in the first three months of 2014, teetering on the brink of recession, which is usually defined as two consecutive quarterly contractions.


-- (c) Copyright AFP 2014-07-03

Confidence highest in 8 months, exchange rate lowest in 5 years.

And fairies live at the bottom of my garden.

As I stated before, it is the narrative the Junta cannot control that show it in a good light.

The Junta has no power over these figures and trying to control them is as fruitless as trying to manipulate global rice market prices. It is impossible.

Without retracting from the Junta's overwhelming success though one must understand that it was the stability they brought that have shown these positive figures. Market forces and healthy indicators thrive on stability just as E-Coli does in a pertri dish under the right conditions.

This would seem to reflect the growing mood in the country since the political playground was closed until further notice and the bullies put into detention or expelled.