BANGKOK: Thailand's consumer sentiment picked up in March, after dropping in the previous month, buoyed by stronger exports and tourism, but global trade tensions and low farm prices were a worry, a private survey showed on Thursday.
The index of the University of the Thai Chamber of Commerce rose to 79.9 in March from 79.3 in February. Consumer sentiment improved slightly because there were high risks at home and abroad, but if consumers were more confident in the political and economic situation, spending might increase in the second half of the year, the university said in a statement.
Private consumption accounts for half of Southeast Asia's second-largest economy, but has been crimped by high household debt, which is about 78 percent of gross domestic product.
However, strong exports and tourism will continue to lift growth this year. The central bank last week raised its 2018 economic growth forecast to 4.1 percent, from 3.9 percent projected earlier.
Growth in 2017 was 3.9 percent, the fastest in five years, but still lags that of regional peers.
The army seized power in 2014 to end political unrest. Last month, junta leader Prayuth Chan-ocha said an election would take place no later than February 2019.
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