Thai Consumer Confidence Hits 7-Month High in November as Covid-19 Concerns Ease
Thai Consumer Confidence rose to 44.9 in November, representing a 7-month high and a 3-consecutive month of growth.
The Thai Chamber of Commerce announced that the Consumer Confidence Index (CCI) for November 2021 rose to 44.9, representing an increase for the third consecutive month and at a highest in seven months, following an increase to 43.9 in October and 41.4 in September.
According to the Chamber of Commerce, the relaxation of lockdown measures since early November, the policy rate at a record low of 0.50%, more vaccine distributions and economic stimulus plans help contribute to regaining confidence. Meanwhile, concerns over the Covid-19 situation in Thailand started to ease, following the decline in daily cases and fatality.
The Chamber of Commerce also expected the Thai economy to gradually improve late this year and move forward. The gross domestic product in 2021 is estimated at 1-1.5% growth.