BANGKOK, Thailand – Thailand’s consumer confidence showed its strongest recovery in nine months in October, driven by optimism over government policies, falling inflation, and a rebound in the stock market, according to the Economic and Business Forecasting Center at the University of the Thai Chamber of Commerce.
The survey found that confidence rose across all key indicators, including overall economic outlook, job opportunities, and expected future income. This marks the second consecutive month of improvement and the first time in nine months that all components of the index improved simultaneously.
Key Indicators for October 2025:
Overall economic confidence: 45.5 (up from 44.4)
Job opportunity index: 49.7 (up from 48.5)
Future income confidence: 60.6 (up from 59.3)
Overall Consumer Confidence Index (CCI): 51.9 (up from 50.7)
Present conditions: 35.3 (up from 34.4)
Future conditions: 60.1 (up from 58.7)
Positive Drivers:
Continued implementation of government economic stimulus measures, including expectations for programs like “Khon La Khrueng Plus.”
Decline in general inflation, easing pressure on household budgets.
Recovery of the Thai stock market, with the SET Index rising from 1,274 points to 1,309 points by month-end.
Improving exports in certain sectors.
Falling retail fuel prices.
Gradual recovery in international tourism, especially Chinese visitors.
Challenges and Risks:
Despite improvements, consumers remain cautious, with overall confidence still below the neutral level of 100. Concerns persist over:
High living costs, particularly for food and energy.
Accumulated household debt, limiting purchasing power.
Flood damage in northern and central regions, impacting agriculture and local businesses.
Geopolitical tensions along the Thai–Cambodian border, potentially affecting trade, tourism, and investment in eastern provinces.
Recommendations by the Economic and Business Forecasting Center:
To sustain consumer confidence, the center urged proactive government measures, including:
Assisting households and businesses affected by natural disasters.
Rebuilding and coordinating cross-border trade and investment confidence.
Restructuring household and business debt and expanding low-interest loans.
Stabilizing the Thai baht at a suitable level.
Promoting technology and innovation, especially in agro-processing and SMEs.
Encouraging foreign investment and enhancing competitiveness.
Outlook:
Professor Dr. Thanawat Polvichai, President of the University of the Thai Chamber of Commerce, noted that the fourth quarter will be critical for year-end spending. If government measures continue and border tensions remain contained, consumer confidence is expected to rise further in the coming months. However, vigilance is required regarding geopolitical risks, high living costs, and long-standing structural debt issues. (TNA)
