Bangkok, The Economic and Business Forecasting Center of the University of the Thai Chamber of Commerce reveals the results of the February 2024 consumer confidence index survey, improving continuously for the 7th month, thanks to government measures passed to reduce electricity prices. Oil and others Meanwhile, the Thai Chamber of Commerce Confidence Index improved. But we are still concerned about many factors both domestically and abroad. Assoc. Prof. Dr. Thanawat Phonwichai, President of the University of the Thai Chamber of Commerce and Advisory Chairman of the Center for Economic and Business Forecasting. Mentioned that the results of the survey of the Consumer Confidence Index for February 2024 improved continuously for the 7th month because consumers were confident in both politics and the guidelines to help reduce the cost of living, both electricity and gas. But consumers are still concerned about the global economic slowdown. A war in the Middle East that may prolong and escalate This may be a fac tor that increases the pressure of the recovery of the global economic system into recession. This has a negative impact on Thai exports and may have a negative impact on the purchasing power of people in all regions in the future. ??????? While the index of confidence about the overall economy Index of confidence in overall job opportunities and the confidence index regarding future income was at 57.7, 60.4, and 73.2, respectively, improving for the 7th consecutive month in every item compared to the index in January. At the levels of 56.9, 59.5, and 72.2, respectively, it indicates that consumers are beginning to gradually regain confidence that the Thai economy can recover after the government is established in September 2023. However, the index is still at a lower level. Normal (at the level of 100) indicates that consumers are not yet confident about the economic situation. Opportunity to find work and future income because there is concern about the political situation in the country Energy prices and the cost of living remain at a high level. as well as the global economic problem that is at risk of entering a state of slowdown. This will affect the Thai economy and employment to have a chance to recover slowly in the future. This makes the future income of consumers highly uncertain. The improvement of the Consumer Confidence Index (CCI) from 62.9 to 63.8 is a good adjustment. It rose for the 7th consecutive month, which is the highest level in 48 months since March 2020. However, the fact that the overall consumer confidence index still moves below the 100 level shows that Consumers still see that the overall economic situation is still slowly recovering, high living costs, and rising interest rates in Thailand and around the world. as well as the war between Russia and Ukraine. with Israel and Hamas in Gaza may drag on. It has a negative psychological impact on domestic purchasing power. Tourism sector, export sector, general business and future employment There is still an opportunity to continually undermine consumer confidence both at present and in the future in the near term. As for current consumer confidence, it has improved for the seventh consecutive month from 46.2 to 46.9, while the future confidence index has improved for the seventh consecutive month as well, improving from The level of 70.9 came to 71.9. The fact that the consumer confidence index returned to improve in every item indicates that consumer confidence has begun to improve due to the more stable political situation. As a result, consumer confidence is likely to continue to improve in the future. Especially if the government can stimulate the Thai economy to recover quickly and concretely in the first half of 2024 under the announced policies. In addition, the opinions of the business sector From members of the Thai Chamber of Commerce in every province across the country. The Thai Chamber of Commerce Confidence Index in February 2024 improved for the second consecutive month at 55.0, even though the business sector was worried about the war in Israel. and worry about drought, PM2.5 problems, US and Chinese economic slowdowns, exchange rate fluctuations. As a result, the economy's growth is not outstanding. But it has still exceeded the median level of 50 for 11 consecutive months since March 2023, indicating that the economy is still viewed as starting to recover gradually. But I want the government to speed up the process of reducing the cost of living for the people even more. Including finding concrete measures to reduce costs for operators throughout the system. As well as managing the PM2.5 problem to reduce it as well. Source: Thai News Agency