The Thai economy continues to strengthen after the University of the Thai Chamber of Commerce (UTCC) stated that Thailand’s January Consumer Confidence Index (CCI) hit a 36-month high attributed to an upbeat economic outlook.
The announcement was made by DR. Thanawat Polvichai, head of the UTCC Centre for Economic and Business Forecasting who said the CCI hit 80.0 last month and was the fourth straight month that figure has increased and the highest since February 2015.
Dr. Thanawat attributed the rise to increases from Thailand’s export sector which grew by 9.89 percent last year as well as Thailand’s recent minimum wage increase, extraordinary Thai stock market performance and the strengthening Thai baht which in turn is bringing increased foreign capital into Thailand.
He noted that higher agricultural prices, particularly rice has also caused an increase to the CCI.
Dr. Thanawat said that his personnel are predicting that the Thai economy will grow by 4.2 to 4.3 percent by the end of 2018
Source : NNT
Content : LovePattayaThailand