Thailand Consumer Morale Highest in 6 Months

The University of the Thai Chamber of Commerce's Consumer Confidence Index declined to 52.1 in September 2026 from August’s six-month high of 53.2. It was the first decline in consumer confidence since May, due to concerns about flooding, a slow economic recovery, and the high cost of living as high oil prices persist amid the ongoing Middle East conflict. Thanavath Phonvichai, the university's president, said that economic damage from the floods is estimated at 22 billion baht to 30 billion baht ($655 million to $893 million) and could remain within that range if conditions start to improve next week. Sentiment could improve later this year if flood risks ease, oil prices fall, tourism picks up, and government stimulus measures gain traction, he added. The economy is expected to grow by 2.2% to 2.5% this year.

The University of the Thai Chamber of Commerce's Consumer Confidence Index climbed to 53.2 in August 2026 from July’s 51.8. It was the third consecutive month of increases and the highest reading since February, helped by the government's co-payment scheme, steady interest rates, and higher prices for key agricultural products, which boosted purchasing power. Thanavath Phonvichai, the university’s president, said planned energy-sector reforms could help sustain growth after the consumer subsidy scheme ends on Sept. 30. The expected passage of the 2027 budget would also lead to public spending supporting the economy after September, he added. Consumer concerns over the Middle East conflict eased, despite lingering concerns about political stability and living costs if oil prices started to rise.

The University of the Thai Chamber of Commerce's Consumer Confidence Index increased to 51.8 in July 2026 from 50.7 in the previous month. It was the second consecutive month of increases and the highest reading since March, helped by lower oil prices and new government support. The government's initial economic stimulus measures also boosted consumer confidence, supporting domestic purchasing power. Last June, the Thai government launched a consumer subsidy program worth 176 billion baht (US$5.32 billion) to help alleviate the cost-of-living burden on the public. The program is part of a 400-billion-baht government borrowing plan aimed at addressing the impact of rising oil prices. In addition to government stimulus, rising agricultural commodity prices also helped boost consumer confidence.