BANGKOK, 6 June 2012 – Thai consumer confidence index touched the highest level in 8 months due to the state-initiated measures to shoulder the rising cost of living.
Permanent Secretary for Commerce Yanyong Phuangrach said on Tuesday that the country’s consumer confidence in May was at 27.4, up from 24.3 recorded in April.
Mr. Yanyong said that the latest figure is the 8th consecutive month of increase and also the highest since last year’s severe flooding eased.
He suggested that the improved confidence is a result of the government’s various measures to help consumers handle the impact of rising cost of living, including the Blue Flag project, the Debt Moratorium program, the one-month delay of the FT charge increase and the reduction of provincial bus fare.
The Permanent Secretary for Commerce said that the ongoing political conflict, which flared up again at the end of May, has not affected consumer confidence yet.
He also stated that the Commerce Ministry’s finding is not different from an earlier report from the University of Thai Chamber of Commerce, which showed the May consumer sentiment index slipped slightly for the first time in 6 months.
Mr. Yanyong said that both indices still reflected substantial consumer confidence after the 2011 flood crisis has passed and the industrial sector is in the recovery stage while the oil prices have fallen more than many have anticipated.
