Thai Consumer Confidence Index in December up slightly

BANGKOK, January 5 (TNA) - Thailand’s Consumer Confidence Index (CCI) in December 2011 rose slightly to 21.4 from 18.5 recorded in November, an increase for the first time in four months since the fierce flood hit the country, said permanent secretary for Commerce Yanyong Puangraj. A survey on CCI in December was conducted by the ministry among 3,250 people nationwide, said Yanyong. Confidence index in every category increased and showed that people gained more hopes and had more confidence after flood receded. People are now preparing to spend more, especially on consumer goods and electrical appliances, he said. However, there are still no signs that people plan to buy more cars at least in the next six months. Although CCI in December increased, the index was still below 50, showing that people were still worried over goods and oil prices, and cost of living, Yanyong said. Factors which could stimulate consumption now could be an increase of civil servants’ salary which takes effect in January, spending over repairs on houses which are damaged by the flood and spending on the Chinese New Year which falls on January 23. People want the government to help controlled goods prices, solve unemployment and low wage problems, according to the survey. It was also found that they want the government to build more confidence among people and investors, urgently assisting in rehabilitation, finding ways to improve the country’s economy and map out transparent water management plan. (TNA)