Thai January consumer index at 11-month high

BANGKOK: Thailand's consumer confidence rose in January for a second straight month to its highest level in 11 months, helped by government stimulus measures, improved exports and higher commodity prices, a university survey showed on Thursday.

The University of the Thai Chamber of Commerce's index rose to 74.5 last month from 73.7 in December.

Consumers were still cautious in spending but that should improve from the second quarter, the university said.

The junta has introduced various stimulus measures in a bid to revive South-East Asia's second-largest economy, which has struggled to regain traction since the military took power in a bloodless May 2014 coup.

Last week, the government approved an additional 190 billion baht (US$5.42 billion) in spending this fiscal year, which ends on Sept 30. It will mainly be spent in the provinces.

Exports, worth two-thirds of the Thai economy, rose a modest 0.45% in 2016 for the first time in four years, customs data showed.

The Bank of Thailand has forecast GDP growth of 3.2% this year and in 2016. Growth in 2015 was 2.8%.

Thailand is due to release official 2016 gross domestic product (GDP) data on Feb 20. - Reuters