Confidence inches up for fourth month

       Consumer confidence climbed for the fourth consecutive month in September in anticipation of an economic recovery driven by government stimulus spending,according to a survey by the University of the Thai Chamber of Commerce.
       September's index rose to 75.6 from 74.5 in August,73.4 in July and 72.5 in June, reflecting hopes that the country would soon emerge from recession.
       The government plans to spend more than one trillion baht on 6,000 projects covering transport, logistics, health and education over three years to spur economic growth.
       "It's the fourth month that the index has gained, but it is still lower than 100 points for the 63rd month," said Vachira Kunthawethep, a UTCC economist. A score of 100 is seen as normal.
       "This reflects consumers' persistent lack of confidence in the general situation,especially with regard to the ongoing domestic political strife which may have adverse effects on the economic recovery and future employment."
       In the survey of 2,242 respondents nationwide, the scores edged up from August for the economy to 68.4 from 67.4, job opportunities to 67.3 from 66.4,and future income to 91.0 from 89.4.
       Mr Vachira said clearer signs that the economy will recover also encouraged people to start spending,
       The index gauges decisions on large purchases such as cars and houses, and investment expansion.
       "Consumer confidence has bottomed out," said Thanavath Phonvichai, a UTCC economist."However, it remains to be seen if the recovery will be sustained, as we have to wait for the outcomes of key situations in October, in particular, constitutional amendments and the Administrative Court injunction to halt 76 investment projects mostly in the Map Ta Phut industrial estate."
       Mr Thanavath predicted the economic recovery would definitely be affected if controversy over the industrial investment projects was prolonged.