# Thai consumer confidence hits 13-month low

- Link: https://www.thailand-business-news.com/economics/162293-thai-consumer-confidence-hits-13-month-low
- Published: 2024-09-13T16:06:06+07:00
- Author: Fujiko Takahashi

The University of the Thai Chamber of Commerce (UTCC) reported that Thai consumer
confidence dropped to a 13-month low in August, marking the sixth consecutive monthly
decline.

### Related**Posts**

###  󠀁[PwC: Supply-Chain Diversification, AI and Energy Transition Open New Growth Paths for Thailand](https://www.thailand-business-news.com/economics/333076-pwc-supply-chain-diversification-ai-and-energy-transition-open-new-growth-paths-for-thailand)󠁿

###  󠀁[World Bank raises Thailand’s 2026 growth outlook to 2% but warns AI dependence and climate risks remain](https://www.thailand-business-news.com/economics/332820-world-bank-raises-thailands-2026-growth-outlook-to-2-but-warns-ai-dependence-and-climate-risks-remain)󠁿

###  󠀁[Asia Faces Inflation Pressures Through 2027, ADB Warns](https://www.thailand-business-news.com/economics/330995-asia-faces-inflation-pressures-through-2027-adb-warns)󠁿

###  󠀁[Weekend Long Read: Why emerging economies in Asia face a tougher road to growth](https://www.thailand-business-news.com/economics/329802-weekend-long-read-why-emerging-economies-in-asia-face-a-tougher-road-to-growth)󠁿

 * Thai consumer confidence has hit a 13-month low due to concerns about slow economic
   growth and high living costs, with consumers expressing skepticism about a quick
   economic recovery.
 * The lack of clear and tangible economic stimulus measures from the government
   has contributed to consumers’ decreased confidence in the economy’s rapid rebound.
 * The new government under Prime Minister Paetongtarn Shinawatra aims to stimulate
   the economy by accelerating budget disbursement and implementing a “digital wallet”
   stimulus program worth 145 billion baht.

Consumers are less confident about a quick economic recovery, despite the political
situation stabilizing. They are waiting for tangible economic stimulus measures 
from the government. Confidence could improve if the government accelerates budget
disbursement and demonstrates clear economic recovery later this year.

ADVERTISEMENT

Despite the declining consumer confidence, the new government has outlined plans
to stimulate the economy. Prime Minister Paetongtarn Shinawatra, who took office
last month, announced a 145 billion baht (US$4.3 billion) “digital wallet” stimulus
program, aimed at supporting vulnerable groups. This measure is part of the government’s
efforts to boost Southeast Asia’s second-largest economy, which expanded by 2.3%
in the second quarter of 2024, following a 1.9% growth last year.