# Consumer confidence in Thailand reached highest level in 47 months in Jan.

- Link: https://www.thailand-business-news.com/economics/128587-consumer-confidence-in-thailand-reaches-highest-level-in-47-months-in-jan
- Published: 2024-03-04T08:29:00+07:00
- Author: Rithy Chey

In January, consumer confidence in Thailand reached its highest level in **47 months**,
driven by the ongoing economic recovery.

The **consumer confidence index** rose for a sixth consecutive month, reaching **
62.9**, up from **62.0** in December.

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## **Key Points**

 * Consumer confidence in Thailand reached its highest level in 47 months, driven
   by economic recovery and improved domestic consumption.
 * The overall economy in January showed positive signs, with growth in tourism,
   private consumption, and merchandise exports, but a slowdown in private investment.
 * Despite stable public debt and international reserves, there are concerns about
   the manufacturing sector, reflected in declining commercial vehicle sales and
   domestic cement sales.

This positive trend is attributed to improved domestic consumption, reflected in
rising passenger car sales and other indicators.

 * **Domestic Consumption**: Passenger car sales increased by **2.4%** year-on-year
   and **9.4%** month-on-month after adjusting for seasonal effects.
 * **Tourism Sector**: Foreign tourist arrivals totaled **3.04 million**, up by **
   41.5%** compared to the same period last year. China, Malaysia, South Korea, 
   Russia, and India contributed significantly.
 * **Merchandise Exports**: The value of merchandise exports rose for a sixth consecutive
   month, reaching **US $22.6 billion**, a **10%** year-on-year increase.
 * **Economic Stability**: Public debt at the end of December accounted for **61.3%**
   of GDP, considered “under control” according to the 2018 State Financial and 
   Fiscal Discipline Act.
 * **External Stability**: The country’s international reserves stood at **$222 
   billion** at the end of January, providing stability amid global economic volatility.

Overall, while Thailand’s economy shows positive signs, challenges remain, and close
monitoring is essential to sustain growth and stability.