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Confidence Rises, at Last
Friday, January 16, 2009 10:59 AM


(Source: Bangkok Post)trackingBy Bangkok Post, Thailand

Jan. 16--Consumer confidence advanced for the first time in five months in December, boosted by the government's economic stimulus package and new measures to help consumers, according to a survey by the University of the Thai Chamber of Commerce.

Saowanee Thairungroj, vice-president of the university's research division, said all confidence indices about future prospects increased for the first time in five months since August 2008.

The consumer confidence index (CCI) rose to 74.8 from 74.2 in November and 75.8 in October.

The gauge, tracking a nationwide survey of 2,238 respondents, is rebounding from its lowest level since January 2002.

The CCI combines indices measuring sentiment about the economy, job opportunities and future income. Although a score of 100 is the norm, the index has been below 100 for 54 months.

In December, all three key indices increased: sentiment about the overall economy inched up from 67.1 to 67.5, job opportunities from 67.9 to 68, and future income from 87.8 to 88.8.

"People are more hopeful about politics after we have the new government," said Thanavath Phonvichai, an economist at the university, adding they were still worried about unemployment.

Thailand's consumer confidence rose from the lowest level in almost seven years in December as the protests that culminated in the seizure of Bangkok airports ended and Parliament elected a new prime minister.

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