BANGKOK, Thailand – Thai consumer confidence improved in September for the first time in eight months, driven by optimism over the new government led by Prime Minister Anutin Charnvirakul, a university survey showed on Wednesday.
The overall Consumer Confidence Index rose to 44.4 in September from 44.1 in August, according to the University of the Thai Chamber of Commerce (UTCC). Future economic confidence saw a notable rise to 57.8 from 56.1, as consumers expressed hope that the new administration’s policies, such as the “Khon La Khrueng Plus” scheme, will spur an economic recovery.
Confidence in the current economic situation, however, fell for the eighth straight month, dropping to 31.1 in September from 32.2 in August. Consumers remain worried about the U.S.-China trade war and the recent border conflict with Cambodia.
The UTCC raised its 2025 GDP growth forecast to 2.0% from 1.7%, citing stronger-than-expected first-half growth (over 3.0%), robust export growth (over 15.0%), and a rebound in private investment.
UTCC President Thanavath Phonvichai noted the 2.0% forecast assumes a number of factors, including 33 million foreign tourist arrivals and the Anutin government dissolving parliament within four months. (TNA)
