Photo by Marek Okon on Unsplash.
Last month saw a rise in consumer confidence following the swift establishment of a new government, although concerns about the high cost of living and the sluggish global economy remain. The University of the Thai Chamber of Commerce (UTCC) revealed that the consumer confidence index rose to 56.9 from 55.6 in July.
This uplift was attributed to the easing of concerns over delays in the formation of a new government and political stability.
Thanavath Phonvichai, president of the UTCC, said that consumers are regaining confidence in the new government’s ability to boost economic recovery, particularly following Srettha Thavisin’s appointment as the 30th prime minister of Thailand.
“The overall political situation in Thailand appears to be stabilising as political divisions seem to be easing leading to increased consumer…
