University of the Thai Chamber of Commerce (UTCC) estimates flood damage in Thailand. The institution predicts 12–20 billion baht in damage, which will cut GDP by 1.1%. The CCI rose for the 4th straight month in September.
Thanavath Phonvichai, president of the UTCC, said that the CCI in September was 44.6, up for the fourth straight month. This is the first time in eight months that the index has been higher. Consumer optimism about the economy has increased since the COVID crisis has been resolved, according to Dr. Thanavath, which is a major factor in the upward trend. Also, once the COVID ban was lifted, it is much easier for international visitors to visit Thailand. Even the price of benzene has dropped considerably since the beginning of the year.
The high cost of living and the conflict between Russia and Ukraine continue to be concerns for consumers, according to Dr. Thanavath. For consumers, another source of anxiety is the trend in many nations to raise policy interest rates. He warned that if these things happen, Thailand’s GDP may increase by less than the government’s hoped-for 3.0% to 3.5%.
The president of the UTCC has stated that there are still only tentative signs of economic improvement. Flood damage, energy price subsidies, and interest group regulation are all areas where the governmental sector must step in. Businesses’ ability to recoup would be jeopardized if the state allowed manufacturing costs to rise too much.
According to the UTCC, Thailand may suffer economic damages of 12-20 billion baht as a result of the recent, extensive floods. Economic growth will be affected by 1%-1%.5%.
 estimates flood damage in Thailand. The institution predicts 12–20 billion baht in damage, which will cut GDP by 1.1%. The CCI rose for the 4th straight month in September.){kind=link}