BANGKOK, Dec. 11 (Xinhua) -- Thailand's business confidence index has fallen for the 12th straight month to 45.9 in November, down from 46 in October, the University of the Thai Chamber of Commerce (UTCC) said on Wednesday.
Thanavath Phonvichai, vice president of the UTCC, said the Thai government should quickly execute budget disbursement and introduce more stimulus measures to spur spending.
Thanavath also attributed the sagging index to the world economic slowdown with Thai exports continuing to fall.
The Thai cabinet last month approved a 144-billion-baht (4.75-billion-U.S. dollar) stimulus package aimed at boosting full-year economic growth to 2.8 percent and maintaining momentum into the first quarter.
The new stimulus measures came after softer than expected third-quarter economic growth of 2.4 percent year-on-year, slightly improving from 2.3 percent year-on-year in the second quarter, but lower than 2.8 percent in the first quarter.
Thanavath said despite relatively low growth of 2.5 to 2.6 percent this year, there were positive signs in the second half of 2019 such as the tourism recovery, which is expected to last till early next year.
