BANGKOK – The Thai consumer confidence index in October 2015 increased for the first time in 10 months after the government imposed short-term economic stimulus measures.
Director of the Fiscal Policy Office Kritsada Chinawicharana on Thursday said the October consumer confidence index was 62.2, rising for the first time since the beginning of the year. Apart from the government’s economic stimulus measures, other factors contributing to the improved consumer confidence included decreasing oil price as well as the government’s policy to boost consumption and domestic investment, said the director.
This year’s oil price is expected to be stable at 53 USD/barrel.
The Thai economy in the fourth quarter will likely continue to expand until 2016 with a growth estimate of 3.8%, mainly due to infrastructure mega projects.
As for the export sector in October 2015, it continued to drop by 8.1%, especially exports in the category of agricultural products, following slowdown of the global economy as well as economies of Thailand’s trade partners. The exports of agricultural products contracted by 4.8%.
