NEW DELHI, November 8: Thai consumer confidence fell to 46.5 in October 2026 from 48.9 in September, staying below the neutral level of 50, as worries about living costs, household debt and the damage from recent floods outweighed the boost from government support, the Commerce Ministry’s Trade Policy and Strategy Office (TPSO) said. The index of current conditions dropped to 36.5, while the outlook for the next three months slipped to 53.1 but remained above 50.
Key highlights
- Overall index: 46.5 in October, down from 48.9; a reading below 50 signals low confidence.
- Now vs. later: current conditions 36.5 (from 39.3); three-month outlook 53.1 (from 55.3).
- Regions: only Bangkok and its surroundings stayed above 50, at 50.2.
- Jobs: government employees (51.8) were the only group above 50; private-sector employees fell to 45.7 from 49.5.
- Survey: 5,585 people across the country.
| Group | October 2026 | September 2026 |
|---|---|---|
| Overall | 46.5 | 48.9 |
| Current conditions | 36.5 | 39.3 |
| Next three months | 53.1 | 55.3 |
| Bangkok and vicinity | 50.2 | 53.9 |
| Central | 45.3 | 47.4 |
| North | 44.9 | 47.4 |
| Northeast | 47.1 | 50.0 |
| South | 47.0 | 48.0 |
| Government employees | 51.8 | 53.7 |
| Business owners | 47.7 | 49.7 |
| Farmers | 46.0 | 47.0 |
| Private-sector employees | 45.7 | 49.5 |
| Freelance workers | 44.0 | 46.7 |
| Students | 43.7 | 47.5 |
| Not working / retired | 46.5 | 50.4 |
What pulled confidence down
The TPSO listed three main concerns: living costs and debt that are limiting spending; geopolitical uncertainty that is making energy prices, transport costs and goods prices volatile; and floods in many areas that hit people’s jobs and incomes and added repair bills. Fuel prices were among the top three factors for most regions and occupations. Consumer prices rose 3.90% in October, as we reported in our story on Thai inflation.
What held it up
On the positive side, the office pointed to the government’s “Thai Chuay Thai Plus” stimulus, which eased living costs and supported small businesses, and to exports, which kept growing on demand for electronics linked to digital and AI infrastructure investment. The Commerce Ministry said it is monitoring essential goods prices, asking producers and retailers to hold off price increases, running low-price “Thong Fah” (Blue Flag) sales, and working with businesses on discounts for flood repairs.
Our calculation
- The overall index fell 2.4 points in a month; the current-conditions index fell 2.8 points.
- The gap between the outlook (53.1) and current conditions (36.5) is 16.6 points, which means people feel worse about today than about the coming months.
- Confidence among people not working or retired fell 3.9 points, slipping below 50.
What it means for India and Asia
Falling confidence in Thailand, one of South-East Asia’s largest economies, could hold back household spending at a time when fuel prices are high across the region. For Indian exporters of food, auto parts and consumer goods to Thailand, weaker spending may mean softer demand, while Thailand’s strong electronics exports show how the AI boom continues to support Asian manufacturing. The Bank of Thailand held its policy rate at 1.00% last month, as covered in our report.
What to watch
- Recovery of incomes in flood-hit areas.
- November’s confidence reading and whether the outlook index stays above 50.
- Any new stimulus measures from the government.
Shoppers in Sampeng Lane, Bangkok’s Chinatown. Image: Vyacheslav Argenberg, CC BY 4.0, via Wikimedia Commons. Photo source · Licence
Sources
The Business Desk covers markets, the economy, companies and personal finance. Stories are checked against at least two credible sources before publication.
