Wed, 04 Oct 2023

Thailand's consumer confidence edges up in May

08 Jun 2023, 19:18 GMT+10

BANGKOK, June 8 (Xinhua) -- Thailand's consumer confidence index (CCI) increased slightly in May, reaching a 39-month high, boosted by higher economic activity during the general election and a rebound in tourism, a survey showed on Thursday.

According to the University of the Thai Chamber of Commerce (UTCC) survey of 2,243 respondents across the country, the CCI edged up to 55.7 in May from 55.0 a month earlier, marking the 12th consecutive month of growth.

The May figure was on a rising trend but saw minor growth as consumers were concerned over the sluggish economy, high energy prices, and political stability following a general election, said UTCC president Thanavath Phonvichai.

Consumers will be more careful with spending as they feel insecure about the future, clouded by political uncertainties, Thanavath told a news conference.

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