According to a survey conducted by ABAC the Thai economy is on an upswing and the picture has changed considerably from what it was two months back in April.
In the month of April the economy had undergone a severe down turn as the number of unemployed people rose to 820,000, or 2.1 per cent of the national workforce, an increase of 270,000 over the same month of last year, according to the National Statistics Office.
The survey conducted by ABAC over the last three months of 1,237 households in 17 provinces asking the same key questions about the economy and the response have been far more optimistic and positive then what it was in the month of April. The survey also highlights another important aspect that the improvement has been gradual as the figures for the month of May were better than those of April and those of June better than those of May.
Though some schools of thought believe that April is not the right time to compare figures with as it was a time of political turbulence in Thailand and political turbulence results in an economic downturn, but others are to believe that political turbulence doesn’t affect the consumer behavior to much and the economy has indeed moved from a wobbly state to state of strength. Though this is not a time to celebrate for the Thai government as there are still some major economic concerns that the government has to look into, but definitely things are looking much better and brighter and the economy is on an uphill than what is was in the month of April