The Centre for Economic and Business Forecasting of the University of the Thai Chamber of Commerce (UTCC) has announced that the country’s Consumer Confidence Index (CCI) in April rose to the highest level in 40 months after a minimum wage rise.
The Centre for Economic and Business Forecasting of the University of the Thai Chamber of Commerce has announced that the country’s Consumer Confidence Index in April rises to the highest level in 40 months. (Photo: thainews.prd.go.th)
Bangkok (NNT/VNA) - The Centre for Economic and Business Forecasting of the University ofthe Thai Chamber of Commerce (UTCC) has announced that the country’s ConsumerConfidence Index (CCI) in April rose to the highest level in 40months after a minimum wage rise.
Director of the centre Thanawat Polwichai disclosed that theConsumer Confidence Index in April rose for two consecutive months to 80.9, thehighest figure since January 2015.
The minimum wage rise, export as well as tourism growth aresaid to have contributed to the higher CCI last month. Despite these positivefactors, the index still remains 100 below the standard due to low prices offarm goods and a stronger baht.
In the next six months, the centre forecasts that the indexis likely to reach 91.9, bringing it to the highest level in 61months as consumers have more confidence in the economy and that there areno negative factors in sight.
Thanawat added the government spending, the minimum wage riseand an increased amount of money being allocated to the social welfare cardscould increase economic growth in the second half of this year by up to 4.6percent. This will also bring the country’s entire year growth to 4 percent,making it the highest in five years.-VNA
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The Centre for Economic and Business Forecasting of the University of the Thai Chamber of Commerce has announced that the country’s Consumer Confidence Index in April rises to the highest level in 40 months. (Photo: thainews.prd.go.th) 
