A jump in Thailand’s Consumer Confidence Index

Thailand’s economy is slowly but surely making a comeback after being devastated by Covid-19 restrictions. Last week, the University of the Thai Chamber of Commerce reported that Thailand’s Consumer Confidence Index had risen. The country’s CCI rose from 40.2 to 41.6 in June, the UTCC said.

This news comes after Thailand’s CCI had been in decline for several months. April’s rate was 40.7, March’s was 42, February’s was 43.3, and January’s was 44.8. A purchasing power index below 100 is a sign of slow economic recovery and weak purchasing power. But could the recent jump be a sign of good things to come for the kingdom?

The UTCC predicts an economic growth rate of 5-7% this year, now that Thailand has ditched several tourism restrictions. The kingdom saw 1.9 million foreign tourists arrive from January to June 28. This raked in about 114 million baht in tourism…