BANGKOK (Manager Daily)- The consumer confidence index in November headed up, according to a survey conducted by The University of Thailand Chamber of Commerce.
This is seen as the first increase in the past eleven months.
Director of UTCC's Economic and Business Forecasting Center, Thanawat Polawichai, said the latest survey showed the country’s CCI rose to 90.3 average points, from 88.8 in October.
He said the increase was the result of falling oil price, an appreciated currency baht, good returns from investment in the stock market and increases in the country's export.
However, the bouyant CCI is likely a temporary one facing negative factors like bird flu and unrest in the south, Mr. pollawat said.
The November CCI is below the 100 average points, which shows prevailence of worries over economic uncertainty among the consumers.
An average point higher than the 100 level represents a strong confidence among the consumers who believe the economy is healthy. An average point below 100 meanwhile represents uneasiness among the consumers.
Concerning oil prices, Thanawat said if the price of diesel slowly increases, the hike is not likely to affect the consumer confidence. Should the diesel price go up drastically, and the currency value strengthens to THB38-39 against a dollar, the price of consumer products on the market would unavoidably go up.
“The economic growth next year will depend on export. Though domestic demand is relatively low in the first half of the year, the second half will see a better result. The country’s economic growth should increase by no less than 5.5% as previously predicted”, he added.
According to the survey, the confidence for future employment also rose to 87.5 average points in the same period. The index was 85.8 average points in October. The confidence for future income rose to 106 average points in November, from 104.2 in October.
This is seen as the first increase in the past eleven months.
Director of UTCC's Economic and Business Forecasting Center, Thanawat Polawichai, said the latest survey showed the country’s CCI rose to 90.3 average points, from 88.8 in October.
He said the increase was the result of falling oil price, an appreciated currency baht, good returns from investment in the stock market and increases in the country's export.
However, the bouyant CCI is likely a temporary one facing negative factors like bird flu and unrest in the south, Mr. pollawat said.
The November CCI is below the 100 average points, which shows prevailence of worries over economic uncertainty among the consumers.
An average point higher than the 100 level represents a strong confidence among the consumers who believe the economy is healthy. An average point below 100 meanwhile represents uneasiness among the consumers.
Concerning oil prices, Thanawat said if the price of diesel slowly increases, the hike is not likely to affect the consumer confidence. Should the diesel price go up drastically, and the currency value strengthens to THB38-39 against a dollar, the price of consumer products on the market would unavoidably go up.
“The economic growth next year will depend on export. Though domestic demand is relatively low in the first half of the year, the second half will see a better result. The country’s economic growth should increase by no less than 5.5% as previously predicted”, he added.
According to the survey, the confidence for future employment also rose to 87.5 average points in the same period. The index was 85.8 average points in October. The confidence for future income rose to 106 average points in November, from 104.2 in October.