Thailand’s consumer confidence index up for sixth month in a row in November

The president of the University of the Thai Chamber of Commerce announced that the consumer confidence index was 47.9 in November, rising for the sixth consecutive month and reaching the highest level in 20 months since April 2021. The confidence index related to the Thai economy as a whole was 42.0, the confidence index related to employment opportunities was 45.2, and the confidence index related to future income was 56.4.

The Office of the National Economic and Social Development Council (NESDB) reports that GDP grew by 4.5% in the third quarter of 2022 and forecasts full-year GDP growth of 3.2%, while GDP growth of 3-4% is expected in 2023 due to the recovery of the tourism sector.

Other positive factors include the decline in domestic oil prices, the increase in prices of many crops, the appreciation of the baht, and the increase in foreign tourists traveling to Thailand.

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