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‘Every half’ pushes the confidence index to grow more in 9 months against the mafia
Date Dec 03, 2020 at 1:40 PM
The confidence index in November improved on all items due to the “half of each” measure to increase the purchasing power of Thais. Despite concerns about political turmoil, additional measures will be put in place in the fourth quarter to revive the economy.
Thanawat Phonvichai, President of the University of the Chamber of Commerce of Thailand and President of the Advisory Center for Economic and Business Forecasting The University of the Chamber of Commerce of Thailand revealed the results of a consumer confidence survey in November 2020 that all Consumer confidence indexes improved for the second month in a row and adjusted to the highest level in 9 rounds. This month, due to the government’s economic stimulus measures, especially the “half person” scheme, and the price of many agricultural crops, especially rice, rubber, palm oil and livestock, the purchasing power in many provinces began to improve. . Although consumers are concerned about Thai political stability after a series of political demonstrations in October, but the index of opinion on the political situation has fallen to its lowest level in 171 months or 14 years and 3 months, and consumers are concerned about the slow economic recovery and future unemployment caused by the negative impact of the political situation. Subtract from COVID-19
For the confidence index about the economy in general General confidence index for job opportunities AND the confidence index for future earnings stood at 45.6, 50.0 and 61.6 respectively, with all the improvements compared to the index October 2020 at levels 43.9, 49.0 and 59.9, respectively.
The improvement in the confidence index in all items this month resulted in the revision of the Consumer Confidence Index (CCI). It improved from 50.9 to 52.4, but the index remained below 100, indicating that consumers continued to see an overall poor economic situation due to internal political problems and the COVID crisis. -19 worldwide, which has a very negative impact on national purchasing power. Tourism sector, export sector, general trade AND future employment By continually undermining consumer confidence both now and in the future
“The confidence index has improved. Although consumers are quite concerned about the political stability of Thailand. This was due to the psychological effect of many measures to remedy and stimulate the economy on an ongoing basis, especially the “half-half” project, as well as the price of many agricultural crops, resulting in increased purchasing power. More and more people, ”Thanawat said.
However, the Center for Economic and Business Forecasting expects consumers to continue to slow spending at least through the first quarter of 2021 until the COVID-19 situation. The world will slacken That it should follow up on concrete stimulus measures during Q4 How much the Thai economy can be revived and how it will improve or worsen the Thai political situation. Both factors will have a significant impact on consumer confidence in the future.
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