Thai confidence picking up

The Thailand Consumer Confidence Index (CCI) rose for the second consecutive month in January...

November 2008 saw the Index at its lowest (74.2) since January 2002, but since then it rose to 74.8 (December) and 75.2 (January).

The survey was undertaken by the University of the Thai Chamber of Commerce (UTCC). The results are believed to show an increase in hope amongst the Thai public partly due to economic stimulus measures introduced by the government, and also due to the current low fuel prices.

Part of the government´s package includes a range of stimuli for the domestic property industry.

As reported in the Bangkok Post: UTCC economist Thanavath Phonvichai warned that the rebound may not be sustained as it is based solely on hope. "The country´s political conditions, the world and US economic prospects, the relatively high cost of living and unemployment are still the key factors that influence consumers´ confidence," he said.

"The government should thus accelerate implementing its economic stimulus measures to restore confidence in consumers and to spur consumption and private investment in the second half of the year."

 Source: www.property-report.com