FX.co ★ Thailand Business Morale at 4-Month High

Thailand’s Business Sentiment Index rose to 46.7 in July 2026 from 46.1 in June, marking its highest level in four months. The improvement was driven mainly by stronger confidence in the non‑manufacturing sector, supported by lower fuel costs and expanded flight services. These gains were partly offset by weaker sentiment in the manufacturing sector amid concerns over US import tariffs.

Assessments of current business performance (50.0 vs. 49.3) and investment (51.2 vs. 50.7) improved. However, expectations became less optimistic for production (48.6 vs. 51.9), employment (48.9 vs. 50.2), and total order books (47.5 vs. 48.1).

Manufacturing confidence weakened in particular due to a decline in order books in the home electrical appliance industry. High production costs remained the primary business constraint for the fifth consecutive month. Inflation expectations for the next 12 months eased slightly to 2.6%. Meanwhile, the three‑month expected Business Sentiment Index increased to 50.7 from 48.0.