New cabinet lifts consumer confidence

Index increases for 1st time in 8 months

- PHUSADEE ARUNMAS

A tourist buys local souvenirs at a Chiang Mai market. Mr Thanavath says tourism and export growth must be monitored as this will determine whether Thailand's GDP growth this year can surpass 2-2.5%. SOMHATAI MOSIKA

(SOMHATAI MOSIKA)

The consumer confidence index (CCI) in September rose for the first time in eight months as consumers are optimistic about the government's economic stimulus measures, according to the University of the Thai Chamber of Commerce (UTCC).

Thanavath Phonvichai, president of UTCC, said the CCI increased from 50.1 in August to 50.7 in September, fuelled by positive reactions to the new cabinet ministers.

“The ‘Khon La Khrueng Plus’ co-payment scheme boosted consumer confidence, despite the Thai economy not having grown significantly. This should encourage consumer spending, reflecting the positive reception for government policies,” he said.