Thai consumer confidence index rises again in June, hits 40-month high
The Thai consumer confidence index (CCI) rose for the 13th consecutive month in June to its highest point in 40 months, the University of the Thai Chamber of Commerce (UTCC) said on Thursday.
The CCI rose from 55.7 in May to 56.7 in June, its highest level since March 2020, it said.
Consumer confidence is rising on the economic recovery and falling oil prices, the UTCC explained.
Indices of confidence in the economy, jobs, and future incomes all rose in June to 51.2, 53.7 and 65.1, respectively, from 50.2, 52.8 and 64.2 in May, respectively, it said, adding that the three figures show consumers gaining confidence that the Thai economy is improving.
Still, the UTCC noted that the CCI still remains below 100. This shows that consumers still view the economic recovery as being slow, the cost of living remains high, and rising interest rates in Thailand and other countries are weighing on confidence as well as purchasing power.
The UTCC rates its consumer confidence index on a scale of zero to 200. A score of 100 represents a neutral level of consumer confidence, while a score above 100 indicates that consumers are more confident in the economy and their personal financial situation. A score below 100 indicates that consumers are less confident.
