BANGKOK, 06 July 2019 (NNT) - The University of the Thai Chamber of Commerce Center of Economics and Business Forecasting predicts that the Consumer Confidence Index, which has dropped in the first half of this year, will pick up given the economic stimulus measures of the new government and the upward trend in farm goods prices.

The Consumer Confidence Index in June has dropped to 50.5, marking a decline for the fourth consecutive month and the lowest in 21 months. That is attributed to consumer concerns over the political situation and uncertainties over the world’s economic recovery, while many farm goods have remained at low prices and consumer have exercised caution in spending.

Thanawat Pholawichai, director of the Center for Economics and Business Forecasting, said the Consumer Confidence Index was forecast to pick up in the second half of this year due to economic stimulus measures, including the use of state welfare cards, tourism promotion campaigns and government investment projects. The prices of rubber and oil palm are expected to increase and the country’s economic growth is expected to rise 3.5%.

National News Bureau Of Thailand