Issue 19
The University of the Thai Chamber of Commerce revealed on January 7 that the consumer confidence index in December 2014 was at its highest point in the 18 months since June 2013. It attributes this to lower oil prices, New Year discount campaigns across Thailand, and the decision of the Monetary Policy Committee to maintain interest rates.
“Lower oil prices are resulting in further disposable income for Thai consumers and businesses and will enable the economy to bounce back,” said Thanawat Polvichai, Director of the University of Thai Chamber of Commerce's Economic and Business Forecast Centre. “It is expected that in the first half of the year, the economy will grow by 2.5 to 3 percent, while the latter half of the year should see growth of 4.5 to 5 percent, resulting in a 3.5 to 4 percent overall growth in 2015.”
Polvichai estimated that lower oil prices saved 5 billion baht for Thai consumers and businesses in December 2014.
.jpg){kind=logo}
