Thai Consumer Confidence Index in April hits 40 months high

BANGKOK, May 3 (TNA) -- Thailand’s consumer confidence index in April rose to the highest in 40 months new minimum wage became effective. The Center for Economic and Business Forecasting of the University of the Thai Chamber of Commerce on Wednesday revealed the survey result that sees the Consumer Confidence Index standing at 80.9. The Center’s director Thanavath Pholvichai also attributed the higher confidence to strong exports and vibrant tourism industry. With the index well below 100 point mark, he said consumers remained wary of global trade tensions, low prices of farm prices and effects of stronger baht. However the consumer’s confidence for the next six months improved to 91.9, the highest in 61 months edging closer to 100, added Thanavath. Other factors under consideration included government subsidy for low income earners and budget disbursement for government projects which would inject cahs flow into the system, he said. The Center’s predicts the country’s economy to grow between 4.2-4.6 percent this year. (TNA)