Thai consumer confidence index up slightly in June

BANGKOK, July 9 (TNA) – Despite worries over the global and Thai economic slowdown, continuing domestic political uncertainty and the widening spread of Influenza A (H1N1) virus in the country, Thailand’s consumer confidence index (CCI) in June this year rose marginally to 72.5, up from 71.5 the previous month, according to a report.
 
The slight increase in the CCI in June also showed the index rising for the first time since February, but still below the 100-mark for 60 consecutive months, said the report issued by the University of the Thai Chamber of Commerce (UTCC).
 
UTCC Vice-Rector Saowanee Thairungroj said the slight jump in CCI in June implied that consumers hoped for an improved domestic economic situation after the parliament recently approved the government’s executive decree to borrow Bt400 billion and a draft  bill to borrow another Bt400 billion to jump start the economy between 2010-2012.
 
Economic and Business Forecast Centre director Thanawat Palavichai said consumption is not expected to increase greatly until this quarter due to persisting negative factors, including the worldwide economic slowdown, affecting Thailand, rising domestic unemployment, the widening impact of the H1N1 virus and delays in the government’s success in solving the political challenges it faces. (TNA)