Thailand consumer confidence sails higher, defying global economic waves

Following a more stable political climate, consumer confidence in Thailand increased for the second consecutive month in September, notwithstanding global economic uncertainties. The consumer confidence index, as reported by the University of the Thai Chamber of Commerce (UTCC), rose to 58.7 in September from 56.9 in August, and 55.6 in July.

UTCC President, Thanavath Phonvichai, attributed this boost in confidence to the establishment of a new government and subsequent political stability. He projected further improvement in consumer confidence if the government successfully initiates stimulus policies to accelerate economic recovery.

Thanavath noted that the overall consumer confidence index still falls below 100, suggesting consumers’ perception of a sluggish economic recovery, high cost of living, and increasing interest rates both…