BANGKOK (Reuters) – Thai consumer confidence in January rose for a fourth consecutive month to the highest level in eight months, bolstered by government stimulus measures, tourism and exports, a survey showed on Thursday.
The consumer index of the University of the Thai Chamber of Commerce increased to 59.0 in January from 57.9 in December, the university said in a statement.
Consumers felt government stimulus was helping the economy and that tourism continued to improve, the university said.
“Consumers believe that the economy will recover in the future if the government continues to drive and stimulate the economy well and there are no additional risk factors, both internal and external risks,” it said.
The government has said its “digital wallet” handout scheme and other measures will help spur the economy as it aims for 3.5% growth this year.
The handout scheme provides 10,000 baht ($300) each to an estimated 45 million people to spend in their localities within six months. So far about 17.5 million people have received payments since it started in September, with the next phase scheduled for the second quarter of this year.
Tourism, a key driver of the economy, saw a 17% year-on-year rise in foreign tourist arrivals to 4.8 million in the year up to February 9.
Exports, also a key growth driver, increased 5.4% to a record $301 billion last year.
($ 1= 33.83 baht)
(Reporting by Orathai Sriring and Thanadech Staporncharnchai; Editing by Martin Petty and John Mair)
