The Thai economy is starting to pick up and consumer confidence is improving thanks to clear political directions since the political situation in Thailand has returned to normal.

According to the Bank of Thailand, the national economy dropped to a low point in the second quarter and is now gradually recovering.

Apart from clear political directions, economic stimulation measures have boosted domestic spending. As a result, the Thai economy in the second half of 2014 is likely to grow, and this should improve the confidence of the general public and investors.

Meanwhile, Head of the National Council for Peace and Order General Prayuth Chan-ocha stated that the overall consumer confidence level continues to improve. The industry confidence index in June 2014 rose to 88.4 from 85.1 in May, as the overall business operation became more convenient and flexible. Purchase orders in many industries, including garments, sportswear, and sports shoes, have increased.

He said that investment has shown a clear sign of improvement. The number of projects applied for investment promotion has increased steadily with a total of 634 projects worth 337.4 billion THB in the first half of 2014. In June, the number of projects reached its highest point in six months, which signals increasing confidence among investors. It is expected that the investment value for the whole year will achieve the set target of 700 billion THB.

The export value in June 2014 hit 19.8 billion USD, a year-on-year increase of 3.9 percent after a steady decline during the previous three months. The increase was seen in several sectors, such as manufacturing, agriculture, and agro-industry.

The Fiscal Policy Office estimated that the export value for the whole year will increase by 1.5 percent.-VNA