Consumer confidence in Thailand soars to 44 month high

Last month witnessed a surge in consumer confidence for the third consecutive month, reaching its highest point in 44 months, according to the University of the Thai Chamber of Commerce (UTCC). Factors contributing to this uplift include the government’s initiatives to curb living costs, a boost in foreign arrivals, and a revival in exports.

The UTCC reported that the consumer confidence index rose to 60.2 in October, marking an increase from 58.7 in September, 56.9 in August, and 55.6 in July. Thanavath Phonvichai, president of the UTCC, attributed the continuous uptick in consumer confidence to the formation of a new government and its strategic policies aimed at reducing living costs, such as cutting electricity and fuel prices and implementing various stimulus packages.

“Consumers see increased stability in domestic politics over the longer…