FX.co ★ Thailand Consumer Confidence Falls to Lowest Since 2022

The University of the Thai Chamber of Commerce’s consumer confidence index fell to 50.1 in August 2025, down from 51.7 in July, marking the seventh consecutive month of decline and reaching its lowest point since December 2022. This downturn is attributed to ongoing concerns about sluggish economic recovery, political instability, and tariffs imposed by the United States. In terms of economic outlook, Thailand’s state planning agency anticipates the economy to grow by 1.8%-2.3% this year, a deceleration compared to the 2.5% growth observed in 2024. However, it is worth noting that the US has reduced tariffs on Thai imports to 19%, down from 36%, although uncertainties persist regarding tariffs on goods transshipped through Thailand from other countries. University President Thanavath Phonvichai expressed optimism that consumer sentiment might improve under Thailand's new government. He emphasized the importance of the administration's ability to achieve and showcase significant, concrete results to help bolster confidence levels.