Thai Oct consumer confidence at 5-month high

Thai consumer confidence rose for a second straight month in October, hitting a five-month high, thanks to an easing of coronavirus curbs and a wider reopening of the country’s troubled tourism sector, a survey showed on Thursday.

The Southeast Asian country has reopened to more vaccinated foreign visitors without quarantine requirements from this month after more than a year of tight border controls.

The consumer index of the University of the Thai Chamber of Commerce rose to 43.9 in October from 41.4 in September, when containment measures were relaxed to help domestic activity.

Sentiment was also lifted by government stimulus measures amid weak consumption, he said, adding the government would need to inject at least 500 billion baht ($15 billion) next year to get economic growth of more than 4 per cent.

This year, the economy might grow by 1 per cent to 1.5 per cent, with an expected contraction of 3 per cent to 4 per cent in the third quarter due to the curbs, Thanavath said.