Thailand’s April CCI increases for 11 consecutive months (Photo: nationthailand.com) Bangkok (VNA) - Thailand’s Consumer ConfidenceIndex (CCI) in April increased for the 11th consecutive month, hitting the highestin 38 months, thanks to positive factors like a surge in tourism and electioncampaigns.
University of the Thai Chamber of Commerce (UTCC) hasrevealed that a survey of 2,238 respondents across the country showed that theCCI had risen to 49.4 in April from 48 in March.
The index showed a particular surge in two key aspects– job prospects and future income – rising to 52.0 and 63.6, respectively fromMarch’s numbers of 50.9 and 62.5.
UTCC president Thanawat Phonwichai said that therespondents considered the increase in foreign tourists in April as a positivesign of recovery. The number of tourists to Thailand jumped sharply from lateJanuary after China removed its travel restrictions.
Besides, he said that campaigns for the May 14election also helped boost the economy as political parties rallying for votesacross the country helped generate up to 60 billion THB (nearly 1.8 billionUSD).
The promises made by electoral campaigns also helpedboost people’s confidence, subsequently increasing their spending for about oneto two months, the official added.
He acknowledged that another factor contributing tothe increase in CCI was the slight drop in fuel prices, which eased people’s worriesabout the cost of living.
However, he also cautioned that the Thai economy will face negative factors such as rising electricity bills, global economicconditions, the ongoing Russia-Ukraine conflict, PM2.5 air pollution, and theFinance Ministry’s downward adjustment of the 2023 GDP estimate from 3.8% to3.6%./.
