Thailand Verbrauchervertrauen

The University of the Thai Chamber of Commerce’s consumer confidence index was down to 56.5 in August 2024 from 57.7 in the previous month. It was the sixth straight month of falling sentiment, pointing to the lowest reading since July 2023, amid sluggish economic activity, lower incomes, and high household debt. Meanwhile, policy uncertainty heightened following a change in government from former PM Srettha Thavisin to Paetongtarn Shinawatra, daughter of former leader Thaksin Shinawatra. Thailand's GDP grew by 2.3% yoy in Q2 of 2024, above forecasts of 2.1% but private consumption, which contributes around 55% of the nation's economy, notably eased in the face of elevated cost pressure. Meanwhile, core consumer prices rose by 0.62% yoy in August, the most in ten months, after a 0.52% gain in July.