Thailand's consumer confidence hits 3-year high amid economic recovery
Source: Xinhua | 2023-03-10 | Editor:Chrisitne
Tourists pose for photos with a kite at the beach in Pattaya, Thailand, Feb. 27, 2023. (Xinhua/Wang Teng)
Thailand's consumer confidence index (CCI) rose for a ninth consecutive month in February, driven by government stimulus measures, tourism recovery and easing fuel prices, a survey showed on Thursday.
The CCI rose from January's 51.7 to 52.6 in February, a three-year high, according to the survey of 2,239 respondents across the country conducted by the University of the Thai Chamber of Commerce (UTCC).
The UTCC attributed the improved consumer sentiment to economic recovery, which is lifted by a rebound in the tourism sector that boosted economic activities and generated more money to circulate in the country.
According to the survey, all indices continued to rise last month as consumers also became less concerned about the cost of living, partially due to the easing of gasoline prices, the UTCC said in a statement on its website.
However, it warned that weakening global demand, resulting in a contraction in Thailand's exports, and interest rate hikes continued to weigh on consumer confidence.
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