Consumer confidence in Thailand improved in August due to the formation of a new government.
Key Takeaways
- Consumer confidence in Thailand improved in August due to the formation of a new government, easing political divisions.
- Concerns about slow economic recovery, high living costs, and rising interest rates continue to impact consumer spending, tourism, and job prospects.
- The implementation of economic stimulus policies, along with reductions in electricity and diesel prices, may contribute to a potential increase in economic growth in the fourth quarter of the year.
The consumer confidence index rose to 56.9, rebounding from a decline in the previous month. However, concerns remain about the slow economic recovery, high living costs, and rising interest rates.
Factors such as these have affected domestic spending, tourism, exports, business activities, and job prospects. Consumers are particularly worried about the cost of living and the uncertain global economic situation.
The UTCC suggests that if the new government can swiftly implement economic stimulus policies, consumer confidence may improve. Recent reductions in electricity and diesel prices are expected to ease the cost of living and contribute to potential economic growth in the fourth quarter of the year.
Source : Consumer Confidence Rises After New Government Formation (prd.go.th)
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