Thailand Business Sentiment Remains Subdued

2026-02-03 09:12 By Jereli Escobar 1 min. read

Thailand’s business confidence indicator fell to 49.1 in January 2026 from 49.8 in the previous month, marking the lowest level since October.

Sentiment worsened on production costs (39.7 vs 42.4) and employment (49.1 vs 51.6), while optimism eased on investment (51.4 vs 51.8) and order books (50.5 vs 51.5).

In contrast, assessments of performance (51.3 vs 49.9) and production (52.4 vs 51.4) improved.

By sector, manufacturing fell across most industries, particularly in plastics and electronics as order books dropped amid US foreign policy uncertainty.

Non-manufacturing activity also weakened across all sectors ahead of the new government formation, with total order books and services falling sharply.

Hotels and restaurants were particularly affected due to the tourism low season and intensified regional price competition.

The three-month forward looking sentiment index dropped to 52.3 from 54.4 in the previous month, marking the lowest level since September.



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Thailand Business Sentiment Remains Subdued
Thailand’s business confidence indicator fell to 49.1 in January 2026 from 49.8 in the previous month, marking the lowest level since October. Sentiment worsened on production costs (39.7 vs 42.4) and employment (49.1 vs 51.6), while optimism eased on investment (51.4 vs 51.8) and order books (50.5 vs 51.5). In contrast, assessments of performance (51.3 vs 49.9) and production (52.4 vs 51.4) improved. By sector, manufacturing fell across most industries, particularly in plastics and electronics as order books dropped amid US foreign policy uncertainty. Non-manufacturing activity also weakened across all sectors ahead of the new government formation, with total order books and services falling sharply. Hotels and restaurants were particularly affected due to the tourism low season and intensified regional price competition. The three-month forward looking sentiment index dropped to 52.3 from 54.4 in the previous month, marking the lowest level since September.
2026-02-03
Thailand Business Morale Weakens in December
Thailand’s business confidence indicator fell to 49.8 in December 2025 from 50 in November, slipping below the threshold and signaling a deterioration in business sentiment. Expectations for performance edged below 50, showing a mild shift toward pessimism (49.9 vs 51.4), while production cost expectations remained negative (42.4 vs 42.5). Optimism declined for production (51.4 vs 51.6), investment (51.8 vs 52), and order books (51.5 vs 52). In contrast, employment outlook improved (51.6 vs 50). By sector, manufacturing grew on front-loaded exports in food, electrical appliances, and rubber, while non-manufacturing surged, led by hotels, restaurants, and retail, supported by government tourism stimulus. The three-month forward-looking sentiment index rose to 54.4 from 53.4, the highest since September 2023.
2026-01-05
Thailand Business Confidence Turns Neutral
Thailand’s business confidence indicator turned neutral at 50 in November 2025, from 48.7 in the previous month. The latest reading ended seven consecutive months of pessimism, with sentiment strengthening in performance (51.4 vs 51.2), production (51.6 vs 50.2), employment (50 vs 49.6), investment (52 vs 51.8), and overall order books (50 vs 47.7). By sector, the non-manufacturing index strengthened sharply, led by the hotel and restaurant industry and the retail sector. Meanwhile, the manufacturing index remained stable, as the food industry performed well, mainly aided by the Half-Half Plus scheme and supply disruptions caused by flooding in various regions. However, confidence in the automotive industry declined, driven by weaker production and performance sub-indices. Looking ahead, the three-month forward-looking business sentiment index rose to 53.4 in November from 52.5 in October, reaching its highest level since February 2024.
2025-12-02