Thailand’s Confidence Index reaches eight-month high

Bangkok (NNT/VNA) - A survey of members of the Thai Chamber of Commerce (TCC) found that confidence in the Thai economy is at its highest in eight months. 

Kalin Sarasin, President of the TCC and the Board of Trade, revealed that the TCC Confidence Index in August rose to 49.8, up from 48.6 the previous month and the highest since January 2018.

The country’s economic expansion in the second quarter adds to the expected 4.6 percent growth for the year. Other positive factors include improvements to agricultural prices in certain areas, continued expansion in the tourism and export sectors, stabilising interest rates and government investments in infrastructure. 

President of the University of the Thai Chamber of Commerce, Saowanee Thairungroj, noted that it was the first time that all regions across the country showed overall improvements in their confidence indices, although the sentiment was not well distributed across provinces. 

The eastern region posted the highest index value, due to improvements in the tourism sector, agricultural demand and border trade. The Bangkok Metropolitan Area also benefited from tourism, along with consumer spending.

The Northeast posted the lowest index value of any region, followed by the North and Central Plains, due to the high cost of agricultural production and constant flooding. 

However, the TCC is confident that the economy will continue to recover thanks to investment, border trade and consumer spending. It believes the economy this month will continue to grow, after the ban on political activities is lifted. 

Saowanee urged the government to boost confidence in tourism through standardised safety measures and satisfy unmet labour demand by recruiting foreign workers.-NNT/VNA