Thailand could be starting to emerge from its economic slowdown with today’s news that consumer sentiment rose for the first time in 10 months during October.
The monthly survey by The University of Thai Chamber of Commerce saw the Index hit 73.4 in October, and this was after recording a 16-month low during the previous month.
Thanavath Phonvichai, Director of the University’s Economic and Business Forecasting Center, attributed the rise to the Thai government’s continued introduction of economic stimulus measures, including within the property and real estate sector.
Thanavath told the media that falling retail oil prices and a rebound on the Thai Stock Exchange has also boosted public sentiment. In a note of caution he added that while the University believed the country’s economy may have bottomed out, its growth outlook remains fragile.