Thursday, August 14, 2008

Thai Consumer Confidence Rebounds In July

Thailand's consumer confidence rose in July for the first time in four months as easing oil prices and government measures to help the poor cope with inflation boosted sentiment. The index climbed to 71.8 from 70.8 in June, the University of the Thai Chamber of Commerce said in Bangkok today.

The government said inflation peaked for the year in July, when oil prices started to fall from record highs. Policy makers have announced economic-stimulus packages and pledged to try to expand the economy by 6 percent this year follwing a 4.8 percent rise in 2007.

The government on July 15 announced a plan to cut excise taxes for fuel, offer free electricity and water to low-use households, and waive fares for cheap bus and train seats in a six-month program that will cost 46 billion baht ($1.4 billion). The measures aim to reduce the burden of low-income earners and ease inflationary pressure.

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