Thailand Personal Spending Slips in September

Private consumption in Thailand slipped 2.2% month-on-month in September 2026, reversing a 0.4% gain in the previous month. It marked the first decline since April, primarily driven by lower spending in the services sector, particularly in hospitality and food services, amid a slowdown in domestic tourism. Demand for durable goods also softened, dragged down by sluggish sales of passenger cars and pickup trucks. Similarly, non-durable goods consumption slightly dipped as elevated fuel prices curtailed fuel purchases, alongside softer sales of general consumer goods and alcoholic beverages. Conversely, semi-durable goods spending picked up, buoyed by increased imports of textiles and apparel. Meanwhile, consumer confidence weakened amid concerns over late-month flooding, persistent cost-of-living pressures, high household debt and ongoing geopolitical and global trade uncertainties.

Private consumption in Thailand increased 0.4% month-on-month in August 2026, easing from a seven-month high of 1.2% in the previous month. Domestic tourism moderated after accelerating in the previous month due to the extended holiday period. Spending on non-durable goods was broadly unchanged, as stronger consumer goods sales, partly aided by government measures, offset declines in fuel sales and electricity consumption. Meanwhile, spending on services picked up, particularly on hotels and restaurants, in line with higher foreign tourist arrivals. Spending on semi-durable goods also edged higher, reflecting increased imports of textiles and apparel, while spending on durable goods continued to advance on higher passenger car sales and motorcycle registrations. Consumer confidence also strengthened, supported by government measures, although elevated living costs and household debt continued to weigh on consumers.

Private consumption in Thailand rose by 1.2% month-on-month in July 2026, edging up from 1.1% in the previous month. It marked the highest reading since December 2025, mainly due to stronger services spending, particularly on hotels and restaurants and passenger transportation, amid government measures and a pickup in domestic tourism. Spending on durable goods also grew, highlighting increased sales of passenger cars and pickup trucks despite lower motorcycle registrations. Consumption of non-durable goods was broadly stable, as higher fuel consumption and alcoholic beverage sales offset weaker consumer goods sales following strong growth in the previous month. In contrast, spending on semi-durable goods dropped, reflecting lower imports of textiles and apparel. Meanwhile, consumer confidence improved, supported by government measures and easing concerns over the Middle East conflict.