CCI for Jan 2011 stands at 72.6

BANGKOK, 10 February 2011 (NNT) – The University of the Thai Chamber of Commerce (UTCC) has indicated an increase in the consumer confidence index (CCI) to stand at 72.6 in January 2011.

According to UTCC’s Center for Economic and Business Forecasting (CEBF), the CCI jumped from 71.9 in December 2010 to 72.6 in January 2011. Confidence in job opportunities was at 72.9 while confidence in future income was at 99.2. Although Thailand is faced with several discrepancies, such as political demonstrations and border conflict with Cambodia, the CCI has improved for two consecutive months.

Positive factors for this month’s CCI range from the stability of agricultural product prices, the government’s Pracha Wiwat welfare scheme and the diesel subsidy to keep the price below 30 THB per liter to the Finance Ministry’s economic growth projection of 4.5 percent.

Among the negative factors are the skyrocketing retail oil prices, consumers’ worries over ongoing protests and the fractured relations with Cambodia as well as uncertainties in the global economic recovery, especially with Europe’s outstanding public debts and Egypt’s political turmoil.