Consumer’s confidence index for the month of December has improved further than the figurers in November and October, registering at 73.7 compared to 73.1 and 72.3 in October and November respectively.
Mr Thanawat Pholvichai, head of the economic and business forecast centre of the Thai Chamber of Commerce University, said consumer’s confidence index for the first quarter of 2017 has the tendency to grow due to improvements in exports and tourism business which, as a consequence, have helped improve purchasing power of consumers.
He attributed the CCI improvement for the month of December to export growth by 10.19 percent and all the stimulus packages introduced by the government such as tax reduction for shopping expenses, bullish stock market and the fiscal policy commttee’s decision to retain policy interest rate at 1.5 percent per annum.
Mr Thanawat predicted economic growth rate for the first quarter at between 3.2-3.3 percent and between 3.3-3.7 percent for the second quarter, thanks to the disbursement of 160 billion baht from the Central Fund and the distribution of budget to the rural areas.
He believes that growth rate for the whole year may register 3.5-4 percent if the government can invest up to 500 billion baht out of the 900 billion baht slated for infrastructure mega projects development starting in july.
Source: Thai Public Broadcasting Service (Thai PBS)