Confidence index rises in April
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Thai consumer confidence showed steady growth in April, thanks to an increase in the minimum wage and high spending over the Songkran holiday.
The minimum wage in 7 provinces including Bangkok was hiked to Bt300 a day on April 1. UTCC earlier expected national spending during the Songkran holiday to hit Bt100 billion.
According to the University of Thai Chamber of Commerce’s survey, the consumer confidence index in the month rose to 77.6 points. Notably, the index has risen for five consecutive months and this was the highest in seven months, or since floods hit Bangkok in October last year.
Thanavath Phonvichai, director of the UTCC’s Economic and Business Forecasting Centre, said consumer confidence is likely to increase further in the coming months on the back of a better economic outlook and political stability.
He noted that consumers had also expressed their grave concerns over the skyrocketing cost of living.
