Thai consumer confidence Index hits 10-month high

[webfact]

Consumer Confidence Index hits 10-month high

BANGKOK, 5 November 2015 (NNT) - The University of the Thai Chamber of Commerce (UTCC) has revealed a 10-month high in the country’s consumer confidence, as a result of the government’s economic stimulus measures.

Director of the UTCC Center for Economic and Business Forecasting (CEBF) Thanawat Polwichai said the consumer confidence index for October has risen from 72.1 to 73.4, marking a 10-month high.

Meanwhile, the country’s overall economic confidence index rose from 61.1 to 62.1, while the index on future employment confidence increased from 67.3 to 89.4 and the index on confidence in future wage expansion increased from 87.9 to 89.4.

Surveys on consumer outlook have yielded positive results, with the index on the appropriateness of purchasing new automobiles rising from 81.9 to 84.6, the index on the appropriateness of purchasing new homes rising from 57.5 to 60.8 and the index on the likelihood for taking vacations rising from 53.8 to 57.3.

Mr Thanawat attributed the increase to the government’s short-term stimulus measures, an increase of 45.94 points in the SET Index for October and a drop in oil prices.

As for negative economic numbers, Mr Thanawat revealed that the Ministry of Finance has revised the country’s GDP growth down from 3 percent to 2.8 percent with export growth shrinking by 5.51 percent. In addition, agricultural production value has stabilized at a level lower than the previous year.

Mr Thanawat also noted that consumers have shown signs of worry as prices of goods continue to rise despite deflation and a slightly appreciating Baht.

As for the country’s overall economy, Mr Thanawat said the country is now in a state of recovery and will benefit from the expanding tourism sector which is expected to benefit from the government’s tourism policies for the years 2015-16.


-- NNT 2015-11-05

[worgeordie]

Prices are up,everything else is going down,but Consumer confidence index

hits a 10 month high,how does that equate?

regards Worgeordie

[shirtless]

Since when has consumer confidence rebounded i see no evidence of that quite the opposite

[chiang mai]

I don't know what anybody else sees but, I see many stores with genuine sale items on display, lots of discounts and very few customers, whilst loads of staff stand around waiting, it's almost eerie.

[elgordo38]

Prices are up,everything else is going down,but Consumer confidence index

hits a 10 month high,how does that equate?

regards Worgeordie

I agree. Bring out the brass band and lets have a parade. They must have polled the hi-so's only. Everybody is hurting and this again proves governments, politicians are not to be believed/trusted and Thailand alone does not have a corner on the fudging figures market just look at our pension COLA increases zero nada zilch. Its all going into the military budget and the more they keep costs down the less they have to borrow. The rich are getting richer in leaps and bounds and there are NO crumbs even for us this year.

[elgordo38]

I don't know what anybody else sees but, I see many stores with genuine sale items on display, lots of discounts and very few customers, whilst loads of staff stand around waiting, it's almost eerie.

What else do you expect from people that make big bahts and that have servants that do the shopping. You cannot find the truth anywhere today how sad.

[anto]

Not possible .

[webfact]

CONFIDENCE
Consumer confidence back on uptrend
Petchanet Pratruangkrai
The Nation

BANGKOK: -- Consumers are once again in the mood to spend on a new home and travel thanks to the government's economic stimulus packages, according to the University of the Thai Chamber of Commerce.

"With better confidence, consumers feel optimistic about spending their money on durable goods and travel, particularly for purchasing a new house following the government's measure to lower the housing transfer tax and mortgage tax.

"Consumers will also decide to purchase more new cars in the final quarter of this year, as the excise tax for some vehicles will be increased next year," Thanavath Phonvichai, director of the university's Economic and Business Forecasting Centre, said yesterday.

The consumer confidence index for October rose for the first time in 10 months to 73.4 points from 72.1 in September, echoing positive prospects for stronger economic growth late this year and next year.

Other confidence indices also firmed on positive feelings about the economy's future growth potential.

The first uptick in consumer confidence in nearly a year shows that people now have a positive outlook on economic expansion for the near future, he said.

The economy has likely bottomed out and will head back up by late this year to next year.

However, consumer sentiment is quite fragile. If the government's economic stimulus package continues to inject money into the economy and each industry, confidence and the economy should grow steadily next year, he said.

The university predicts the economy expanding 2.5-3 per cent this year and 3.5-4 per cent next year.

Next year's economy should grow stronger as exports recover from shrinkage this year.

More foreign direct investment will flow to Thailand and Asean from the full implementation of the Asean Economic Community. The outlook for politics is stable.

The Cabinet has launched three fast-acting measures to stimulate the economy, focusing on increasing liquidity for low-income earners and villages.

The others are for promoting budget disbursement to small projects nationwide and for using tax incentives to boost spending.

The climbing SET Index and falling domestic retail oil prices have also helped whet spending appetite.

Risk factors for consumer confidence include low crop prices and low global oil prices. However, oil prices are expected to increase in the second quarter of next year, which should help boost the prices of commodities and farm crops.

Wachira Kuntaweethep, assistant director of the centre, said that based on the university's survey with 2,244 respondents, confidence in employment opportunities improved from 67.3 points to 68.6 last month and in future income from 87.9 to 89.4.

Source: http://www.nationmultimedia.com/business/Consumer-confidence-back-on-uptrend-30272345.html


-- The Nation 2015-11-06

[torpedo1970]

Prices are up,everything else is going down,but Consumer confidence index

hits a 10 month high,how does that equate?

regards Worgeordie

This is all a big smokescreen created by the government (ARMY)

[elgordo38]

Quote The climbing SET Index and falling domestic retail oil prices have also helped whet spending appetite.

Risk factors for consumer confidence include low crop prices and low global oil prices. However, oil prices are expected to increase in the second quarter of next year, which should help boost the prices of commodities and farm crops.

Does anyone see anything contradictory in the above statement especially the comment on oil prices. The only ones opening their wallets in a big way are the elite. Methinks most of the spending will be by the elite buying up farmland from desperate farmers on the cheap.

[SantiSuk]

Meanwhile the global investment community continues to treat Thailand as a pariah state when it comes to allocation of funds to Thailand in global and emerging market collective funds. Soldiers running the country rarely attract new business from the first world.

My money is on the international fund managers, not the ever hopeful (bless, love em to death) Thais.

Luckily for Thailand, China is quite au fait with military style administrations!

[ldiablo]

I sure hope the Thais are gullible enough to fall for this. But I'm sure Englishjohn is.

[Thai at Heart]

What was the level 10 months ago?