Economic and Business Forecast Center University of the Thai Chamber of Commerce reveals consumer confidence index September 2023 continued to improve for the second month. Consumers began to regain confidence after the new government was established and the government created a policy to reduce the cost of living by reducing electricity and gas costs. As well as having policies to stimulate the economy, there are still concerns about the global economy slowing down and interest rates rising.

Assoc. Prof. Dr. Thanawat Phonwichai, President of the University of the Thai Chamber of Commerce and Advisory Chairman of the Center for Economic and Business Forecasting. Mention the Consumer Confidence Index for the month of September 2023” which improved continuously for the 2nd month as consumers began to regain confidence after the new government was established and the government created a policy to reduce the cost of living by reducing the cost of electricity and gas. As well as having various policies to stimulate the economy. In addition, consumers see that Thai politics will be more stable in the future after a government is formed that dissolves various political divisions. that have different opinions, with the political conflict likely to be resolved As a result, the confidence of every consumer has improved in every item.

However, consumers are still concerned about the global economic slowdown. As well as raising interest rates to solve the problem of inflation in countries around the world, this may be a factor that increases the pressure of the recovery of the world economic system into recession. This has a negative effect on Thai exports, causing exports to shrink during this period. and has a negative impact on the purchasing power of people in every region

The overall economic confidence index Index of confidence in overall job opportunities and the confidence index regarding future income was at 53.2, 55.4, and 67.4, respectively, improving for the second consecutive month in every item compared to the index in August. At the levels of 51.6, 53.9, and 65.2, respectively, it indicates that consumers are beginning to regain confidence that the Thai economy can recover after the government is established.

However, the index is still below normal (at the 100 level), indicating that consumers are still not confident about the economic situation. Opportunity to find work and future income because there is concern about the political situation in the country Energy prices and the cost of living remain stable at high levels. as well as the global economic problem that is at risk of entering a state of slowdown. This will affect the Thai economy and employment to have a chance to recover slowly in the future. This makes the future income of consumers highly uncertain.

The improvement of the Consumer Confidence Index (CCI), which adjusted from 56.9 to 58.7, is an improvement for the second consecutive month. However, the confidence index of consumers as a whole still moves below the 100 level, showing that consumers still see that the overall economic situation is still recovering slowly, high living costs and rising interest rates in Thailand and around the world. It has a negative psychological impact on domestic purchasing power. Tourism sector, export sector, general business and future employment There is still an opportunity to continually undermine consumer confidence both at present and in the future in the near term.

Current consumer confidence improved for the second consecutive month from 41.7 to 42.9, while the future confidence index improved for the second consecutive month as well. It improved from the level of 64.2 to the level of 66.3.

However, the consumer confidence index returned to improve in every item. It shows that consumer confidence has begun to improve due to the political situation and the establishment of a new, stable government. As a result, consumer confidence is likely to continue to improve in the future. especially If the new government can stimulate the Thai economy to recover quickly and concretely under the policies that have been announced.

Source: Thai News Agency