Easing drought impacts boost Thailand's CCI

BANGKOK, August 4 (TNA) - Thailand's consumer confidence index (CCI) has increased, thanks to relieving drought impacts. Thanavath Phonvichai, Director of the Economic and Business Forecasting Centre, under Bangkok-based University of the Thai Chamber of Commerce, told journalists on Thursday that CCI last month increased for the first time in seven months, or the first time this year, to 72.5, from 71.6 in the previous month. In separate aspects, Thanavath noted that CCI for the overall Thai economy rose to 61.4 in July, from 60.6 in June, for prospect of future incomes to 88.7, from 87.6, and for employment prospect to 67.4, from 66.5. Thanavath attributed the improving CCI to relieving impacts from drought earlier this year, leading to rising prices of locally-grown Thai farm produce and purchasing power of people in provincial areas. The senior Thai economist acknowledged, however, that based on the latest survey, local people were concerned over the result of the country's referendum on new Constitution draft, set on August 7, but the public still believed that there would be a new general election next year as laid out in the government's ongoing roadmap. (TNA)