Grassroots Economic Sentiment Index declines in Q2

BANGKOK, Aug 6 (TNA) - The Grassroots Economic Sentiment Index (GSI) declined slightly in second quarter this year to 46.3 from 47.2 the previous quarter on worries by grass roots people that Thailand’s economy is still not recovered and high cost of living, forcing people to be cautious in spending, said Chatchai Payuhanaveechai, president of Government Savings Bank. The GSI during the second quarter which was still higher than 44.1 compared to the corresponding period of 2016 was obtained from a survey on 1,903 people nationwide whose monthly income were less than 15,000 baht, said Mr. Chatchai. Although the GSI slipped in the second quarter, it was found that the Savings Confidence Index and opportunities in finding jobs increased, he said. However, spending, ability for debt settlement, ability to earn more income and the general economy of the country retreated during the period, according to the survey. Mr. Chatchai said his bank’s research centre projected that the GSI would recover during the second half this year on grassroots stimulus package offered by the government, high expectations that the country’s general economy would expand and higher agricultural production. (TNA)