Bangkok: Consumer confidence in Thailand has plummeted for the fourth consecutive month, reaching its lowest point in 27 months. The downturn is attributed to escalating concerns over the Trump 2.0 trade war and a sluggish Thai economy.
According to Thai News Agency, Thanawat Polvichai, President and Advisor to the Economic and Business Forecasting Center of the University of the Thai Chamber of Commerce, disclosed the findings from the May 2025 consumer confidence survey. The survey revealed a continuous decline in consumer confidence for all categories over the past four months. The index is at its lowest since March 2023, with consumers expressing worries about the trade war spurred by Trump 2.0 policies and the persistent economic slowdown in Thailand. Despite governmental economic stimulus measures in the year’s first quarter and the Bank of Thailand’s accommodative monetary policy, which included a 0.5% reduction in the policy interest rate, consumers perceive the economic recovery as sluggish and access to credit as challenging.
The economic, job opportunity, and future income confidence indexes have decreased to 48.1, 51.9, and 62.7, respectively, marking a decline for the fourth consecutive month. These numbers show a drop from April’s indexes of 49.3, 53.0, and 63.9, respectively. The indexes remaining below the normal level of 100 reflect ongoing concerns about the economic situation, employment opportunities, and future income. Consumers are worried about the domestic political climate, high living costs, and the global economy’s potential slowdown, exacerbated by the trade war, which threatens Thailand’s economic recovery and employment rates, making future income prospects uncertain.
The Consumer Confidence Index (CCI) has decreased from 55.4 to 54.2, marking the lowest level since March 2023. The index’s continued sub-100 level indicates prevailing consumer pessimism regarding the economic recovery pace, high living costs, and the potential intensification of the trade war, which may further erode consumer confidence in the near future.
Current consumer confidence has seen a decline from 39.8 to 38.8, while future confidence has dropped from 62.9 to 61.7. The persistent decline across all categories for four consecutive months suggests growing consumer apprehension about future consumption, especially if the trade war escalates and economic recovery remains sluggish despite government efforts.