April 11, 2008
BANGKOK - The consumer confidence rose in March, the fifth consecutive increase amid hopes that the new government will take measures to stimulate the sluggish economy, researchers said Thursday.
The consumer confidence index rose to 80.7 from 79.5 in February, the University of the Thai Chamber of Commerce said.
"People worry about inflation, especially high oil prices, but they still have hope that the government will do something to support the economy," pollster Thanawat Phonvichai said in a statement.
Prime Minister Samak Sundaravej announced in February that one of his new government's top priorities was boosting the country's flagging economy and restoring confidence among investors and the public, according to AFP.
Although consumer confidence is growing, the index has spent 45 months below 100, reflecting that pessimists outnumber optimists.
"Consumers still worry about domestic politics, mainly due to fears over the stability of the government," Thanawat said.
Fears over a recession in the US, Thailand's largest trading partner, also caused concerns as exports are key to the kingdom's economy.
The index is based on a survey of more than 2,000 people nationwide.
