Thai consumer index rises first time after flood

Thailand's Consumer Confidence Index (CCI) rose in December for the first time since flood crisis ravaged the country four months ago, said a senior officer of the Commerce Ministry on Thursday. A survey on consumer confidence was conducted earlier, asking 3, 250 people across the country. On a scale ranging from 0 to 100, the Consumer Confidence Index in December rose to 21.4 from 18.5 in November, the first increase in four months since the flood crisis began in late July. All consumer confidence indices relating to the economic and business situation, future income and job opportunities have risen, indicating strengthening confidence after the disaster. Yanyong Puangrach, Permanent Secretary for Commerce, said the higher index was the result of increase in household item and electrical appliance purchases. Despite an increase, consumer confidence remained low as the index was below 50. Yanyong attributed low confidence to the majority's concern over commodity and oil prices and the cost of living. On the other hand, factors that will help boost consumption are the civil servants salary rise from January onwards, post-flood rehabilitation, expenditures during the Chinese New Year, according to the permanent secretary.