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Thailand's consumer confidence improves in August

14 Sep 2023, 21:18 GMT+10

BANGKOK, Sept. 14 (Xinhua) -- Thailand's consumer confidence index (CCI) improved in August as prolonged political uncertainty eased following the appointment of a new prime minister after the May general elections, a survey showed on Thursday.

According to the University of the Thai Chamber of Commerce (UTCC) survey of 2,244 respondents across the country, the CCI rose to 56.9 last month after a first drop in 14 months to 55.6 in July.

The August figure was attributed to higher consumer confidence in all components of the index, which was in line with a strong recovery in sentiment regarding the political situation, said UTCC president Thanavath Phonvichai.

Clarification over a new government formation and the increasing number of inbound tourists are major supportive factors, while sluggish economic growth and the high cost of living due to rising energy prices remained a primary concern for consumers, Thanavath told a news conference.

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