Confidence among Thailand consumers is at an 11-month high last month according to the latest University of the Thai Chamber of Commerce (UTCC) Consumer Confidence Index (CCI) .
According to UTCC’s Center for Economic and Business Forecasting Director Thanawat Polvichai, the index has increased for three consecutive months and now stands at 78.2 points.
The rise of the index is due to the newfound political clarity as a result of the military takeover, which would likely make the Thai economy gradually recover, he said.
Consumer spending is also expected to increase during the second half of 2014, which will help stimulate the economy. For this reason, Thanawat believes that the Thai economy could grow by between 2 percent and 2.5 percent by the end of this year.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email: andrew@propertyguru.com.sg