Connect with us

Economics

Thai Consumer confidence index improving for the first time in 5 months

Public confidence in the expansion of the Thai economy improves after a clear election date has been set fourth

Avatar

Published

on

prices bangkok shopping mall

Public confidence in the expansion of the Thai economy continues to improve after a clear election date has been set fourth and a comeback in the number of Chinese tourists.

The University of the Thai Chamber of Commerce expects spending during Valentines and Makha Bucha Day at no less than 6.3 billion baht.

Director of the Economic and Business Forecasting Center at the UTCC Thanawat Polvichai revealed that the consumer confidence index in January 2019 stood at 54.5, improving for the first time in 5 months, as consumers perceived that the election date would clearly benefit the Thai economy.

The trade war between the United States and China is beginning to ease

Meanwhile, the trade war between the United States and China is beginning to ease while Chinese tourists are also beginning to return to Thailand.

These factors, in addition to the rise in many agricultural prices, should result in the increased purchasing power and public confidence. The consumer confidence index in the future over the next 6 months also improved to a level of 92.3.

Surveys of spending during Valentines day expects no less than 3.7 billion baht in spending, down from the same period last year by 3.17%, the first negative rate in 13 years due to consecutive festivals, including Chinese New Year, Valentine’s Day and Makha Bucha Day.

The drop reflects the cautious spending behavior and worries over economic expansion. Spending among couples is expected at around 2.3 billion baht over mostly gifts, flowers, chocolates and eating out.

Spending during Makha Bucha Day is expected to expand by 3.12% to over 2.6 billion baht, averaging at 1,642 baht per person. Most activities include making merit, giving alms, and vacationing.

Reporter : Jettana Pantana

Rewriter : Tarin Angskul

National News Bureau Of Thailand

Advertisement
Comments

Economics

NESDB projects 1.5-2.5 percent growth in 2020

With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.

National News Bureau of Thailand

Published

on

Construction Workers in Bangkok

This year, the country’s economy is facing another big concern from the COVID-19 virus situation. With help from the government’s economic measures, the National Economic and Social Development Board (NESDB) is expecting the Thai economy this year to grow just 1.5-2.5 percent.

(more…)

Continue Reading

Economics

COVID-19 Set to Dampen Asean and China’s Economic Growth

The SARS outbreak provides a useful benchmark, but there are significant differences between that epidemic and the latest one.

Boris Sullivan

Published

on

Coronavirus Asia

The ongoing coronavirus outbreak will dampen economic growth in China this year, but the scale of the impact remains uncertain and will depend on the duration and intensity of the health crisis, says Fitch Ratings.

(more…)

Continue Reading

Economics

Bank of Thailand expects 3% economic growth in 2021

Bank of Thailand has released its latest forecast for the Thai economy, expecting growth of more than 3 percent in 2021

National News Bureau of Thailand

Published

on

The Bank of Thailand has released its latest overview of the Thai economy, which it expects will grow more than 3 percent in 2021.

(more…)

Continue Reading

Must Read

Upcoming Events

Mar 11

Food science conferences

March 11 @ 8:00 am - March 12 @ 5:00 pm BMT
Mar 11

Food science conferences

March 11 @ 9:00 am - March 12 @ 5:00 pm BMT
Mar 22

41st World Dental Science and Oral Health Congress

March 22 @ 9:30 am - March 23 @ 5:00 pm BMT
Mar 26

8th Anti-Corruption Compliance Asia Pacific Summit 2020

March 26 @ 9:00 am - March 27 @ 5:30 pm SMT

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 12,189 other subscribers

Trending