Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Thai Dec consumer confidence at high of nearly 4 years on govt measures, tourism

Published 01/10/2024, 11:25 PM
Updated 01/10/2024, 11:33 PM
© Reuters. Vendors sell pork at their stalls inside a market as Thailand is to inject $15.2 bln into economy next year through its digital wallet policy, in Bangkok, Thailand, October 2, 2023. REUTERS/Athit Perawongmetha

BANGKOK (Reuters) - Thai consumer confidence rose in December, reaching the highest level in 46 months, boosted by government measures to ease living costs and increased tourism, a survey showed on Thursday.

The consumer index of the University of the Thai Chamber of Commerce increased to 62.0 in December from 60.9 the previous month, the university said in a statement.

Consumer confidence rose for the fifth straight month, suggesting consumer confidence should continue to increase, particularly if the government can quickly boost the economy this year with its planned policies, the university said.

The government is forging ahead its controversial digital wallet handout programme, which involves a 500 billion baht ($14.3 billion) plan to transfer 10,000 baht ($286) to 50 million people to spend within six months.

Prime Minister Srettha Thavisin this week also urged the central bank to cut interest rates, saying high borrowing costs were hurting Southeast Asia's second-largest economy, small businesses and lower-income people.

© Reuters. Vendors sell pork at their stalls inside a market as Thailand is to inject $15.2 bln into economy next year through its digital wallet policy, in Bangkok, Thailand, October 2, 2023. REUTERS/Athit Perawongmetha

The government wants to boost economic growth to at least 5% each year, with 2023's growth forecast at about 2.4%.

($1 = 35.02 baht)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.