Business

Thailand’s Consumer Confidence Index (CCI) rises for 2nd consecutive month

Thailand’s Consumer Confidence Index (CCI) in January rose for the second consecutive month after the situation returned to normal following the flood crisis last year, said Yanyong Puangrach, Permanent Secretary for Commerce.Today he announced the results of the CCI survey for January, conducted among 3,024 people from all walks of life.The survey found that all indices, including consumer confidence indices on the current and future situation as well as index on future income, rose for the second consecutive month in January, Mr Yanyong said.The increasing indices were attributed to the rise in start-up salaries for civil servants, the government’s rehabilitation measures for flood victims and consumer spending during the Chinese New Year.The Consumer Confidence Index in January stood at 24.2, higher than the 21.2 listed in the previous month. However, as the index is still lower than 50, it indicates that the public are still concerned over the local economy–in particular the cost of living, oil prices and the volatile global economy.Meanwhile, those surveyed urged the government to control prices of consumer goods and the cost of living to ensure that they are in line with current income. They also wanted the government to speed up tackling rising energy prices, unemployment problem and minimum wages. Respondents also urged the government to build confidence among investors, lay out systematic water management plans to prevent possible massive flood this year and speed up the country’s post-flood rehabilitation.

Published

10 years ago

February 7, 2012

Zhong Li

The survey found that all indices, including consumer confidence indices on the current and future situation as well as index on future income, rose for the second consecutive month in January, Mr Yanyong said.The increasing indices were attributed to the rise in start-up salaries for civil servants, the government’s rehabilitation measures for flood victims and consumer spending during the Chinese New Year.

The Consumer Confidence Index in January stood at 24.2, higher than the 21.2 listed in the previous month. However, as the index is still lower than 50, it indicates that the public are still concerned over the local economy–in particular the cost of living, oil prices and the volatile global economy.Meanwhile, those surveyed urged the government to control prices of consumer goods and the cost of living to ensure that they are in line with current income.

They also wanted the government to speed up tackling rising energy prices, unemployment problem and minimum wages. Respondents also urged the government to build confidence among investors, lay out systematic water management plans to prevent possible massive flood this year and speed up the country’s post-flood rehabilitation.

Infrastructure services, if quickly improved, could promote a better investment climate in Thailand

Economists and analysts forecast gloomier times, predicting Thailand’s GDP to contract by 0-3 percent while the country descends into a deflationary spiral. Moody’s Economy.com says Thailand could be the Asian economy that suffers the most from the global financial crisis. Plus the spectre of further political unrest remains on the horizon. However, there are some signs that Thailand can ride out the economic firestorm. Government debt-to-GDP remains below average regionally speaking, the financial sector learnt from the 1997 meltdown and remains relatively well capitalised and liquid, and Board of Investment privileges are some of the best in Southeast Asia.

Business

This is what global tax reforms could mean for Asia’s tech giants

A new set of agreed global tax reforms will change where tech giants and other global giants pay taxes, explain experts from the IMF. Investment hubs such as Singapore and Hong Kong SAR could lose up to 0.15% of GDP as a result.

Published

22 hours ago

December 3, 2021

The World Economic Forum

7f7ede46 singapore skyline unsplash crop

Asia’s advanced and emerging market economies have several locally headquartered tech giants and host foreign companies.

(more…)

Economics

Stable outlook for APAC sovereigns as growth rebounds and debt stabilizes

Economic growth rates in Asia-Pacific are broadly rebounding and debt burdens stabilizing, giving rise to a stable outlook for sovereign creditworthiness in 2022. Still, the pace of recovery differs vastly, and some economies will experience deep economic scarring, according to a new report by Moody’s Investors Service.