Picture courtesy of Thailand Business News

 

Thai consumer confidence has plummeted to its lowest point in over two years, driven by fears of a sluggish economic recovery, political instability, and US tariffs. The University of the Thai Chamber of Commerce reported a decline in its consumer index to 50.1 in August from 51.7 in July. The survey, conducted prior to Anutin Charnvirakul taking office as the new Prime Minister, suggests uneasy public sentiment.

 

Various factors, including political uncertainty and global trade tensions, are at play. The US recently lowered tariffs on Thai goods, but concerns about tariffs related to transshipments remain. The University of the Thai Chamber of Commerce's president, Thanavath Phonvichai, indicated that consumer confidence could improve with effective government intervention under Prime Minister Anutin.

 

Thanavath noted that reversing this downward trend depends on the new government's ability to produce tangible results. He mentioned that the prevailing mood might improve due to initial optimism surrounding Prime Minister Anutin's economic revitalisation efforts. Anutin has already shown his intent to address economic challenges with his first cabinet selections.

 

Thailand's economy, projected to grow by 1.8 to 2.3 percent this year, faces stiff competition from regional peers. The economic expansion rate last year was 2.5 percent, lagging behind other Southeast Asian countries. Experts emphasise the importance of maintaining competitiveness amid global trade uncertainties and a strong Thai baht, which has appreciated by 8 percent against the dollar this year.

 

Key Takeaways

 

• Thai consumer confidence has fallen to a 32-month low.
• Political stability and effective government policies are critical.
• The strong baht adds pressure amid trade challenges.

Related Stories:

 

Thai Economy Faces Recession Risks Amid Consumer Confidence Decline and Trade War Worries

Thailand Faces Economic Slowdown Amid Weak Consumer Spending and Industry Struggles

 

 

  Adapted by ASEAN Now from Thai Newsroom 2025-09-12

 

 

Yes, one can see that at the 'weakness' of the Thai baht... 😆

 

Despite low consumer confidence and economic growth, not to mention political uncertainty, as strong as it hasn't been for 4 and-a-half years.

This is referring to a slump whilst the TAT is extolling a record year. They cant both be right

 

 

....and the baht strengthens on the back of it.

to the Thai gov relax the grip on the consumer

I've been married to a Thai lady for the past 25 years. Over that time I've lived in Thailand. Even my wife has noticed how the cost of living has increased dramatically. When Yingluck was PM I was getting 33.5 baht for an Australian dollar. Now I'm lucky to get 20.00 baht. Surely no currency should depreciate like that over a few years. Just an example what about the price of pork, it was around 80 baht a few years ago and chicken was about 40 baht. Don't worry about this TAT mob they're only trying to justify their jobs. When tourism hits rock bottom they will do the normal Thai trick and do a runner. A great place to live 25 years ago completely trashed by incompetant muppets.

17 hours ago, webfact said:

reversing this downward trend depends on the new government's ability to produce tangible results.

Sure. Like how? It's the usual fill-your-boots-while-you-can show. Thai economy? Results? Does anyone really think that's the goal (or even part of the game)?

8 hours ago, Will B Good said:

 

 

....and the baht strengthens on the back of it.

Around 31.72 at mid-market rate according to xe.com. A Thai economy in the dumps, little enthusiasm in the money market over new 'government' and even US inflation report doesn't seem to move the THB needle.

22 minutes ago, Mason45 said:

When Yingluck was PM I was getting 33.5 baht for an Australian dollar. Now I'm lucky to get 20.00 baht. Surely no currency should depreciate like that over a few years.

I've been here around the same length of time. Shortly after arriving, I recall the GBP at a high of 77 to the baht and USD was at least 45. The price of food has skyrocketed like you say. Imported foods at a supermarket tell a tale too. I remember a bottle of HP sauce on sale at around 99 baht 10 years ago - now it's more than double that. Coffee prices have risen by at least 20% since new year. So if the THB is so strong compared to the USD, wouldn't these imported products be cheaper to bring in to Thailand?

Open the border and stop acting like asswipes. The people on the border are starving

2 hours ago, Mason45 said:

I've been married to a Thai lady for the past 25 years. Over that time I've lived in Thailand. Even my wife has noticed how the cost of living has increased dramatically. When Yingluck was PM I was getting 33.5 baht for an Australian dollar. Now I'm lucky to get 20.00 baht. Surely no currency should depreciate like that over a few years. Just an example what about the price of pork, it was around 80 baht a few years ago and chicken was about 40 baht. Don't worry about this TAT mob they're only trying to justify their jobs. When tourism hits rock bottom they will do the normal Thai trick and do a runner. A great place to live 25 years ago completely trashed by incompetant muppets.

Agree, that's why we left Thailand, my Thai wife and I, we have been married for about 22 years today's rate was 20.80. My wife is a nurse and makes an average of 35 AUD per hour