Consumer confidence at 5-month high
Thai consumers in February showed higher confidence in the economic outlook, thanks to the Constitution Court's greenlight to the government's two executive decrees and signs of economic recovery.
Despite widely-reported bombs in Bangkok, the consumer confidence index rose to 75.5 points in the month, according to a survey by the University of the Thai Chamber of Commerce (UTCC).
The Consumer Confidence Index (CCI) in February rose for the third straight month, from 74.2 points in January. After the floods, the index level has risen to the highest figure in five months.
Thanavath Phonvichai, director of the UTCC's Economic and Business Forecasting Centre, said the court's verdict to support the government's spending is a major reason of higher confidence.
The court on Feb 22 ruled that the government's executive decrees to borrow Bt350 billion and transfer of Financial Institutions Development Fund's debt to Bank of Thailand do not violate the Constitution.
Consumers also gained more confidence due to greater political stability.
Their confidence increased despite several negative factors, including the bomb and Financial Action Task Force on Money Laundering's blacklisting of Thailand.
