Thu Sep 12 05:16:00 UTC 2024: ## Thai Consumer Confidence Plummets to 13-Month Low Amid Economic Uncertainty

**Bangkok, Thailand – September 12, 2024** – Consumer confidence in Thailand has continued its downward trend, hitting a 13-month low in August, according to a survey released Thursday by the University of the Thai Chamber of Commerce (UTCC). The consumer index fell to 56.5 in August, down from 57.7 in July, marking the sixth consecutive month of decline.

The survey attributed the drop to lingering concerns about slow economic growth and the rising cost of living. Consumers remain skeptical about a quick economic recovery despite the recent political stabilization, as they haven’t yet seen tangible economic stimulus measures from the new government.

Prime Minister Paetongtarn Shinawatra, who took office last month, outlined her government’s policies at parliament on Thursday. However, consumer confidence may improve if the government accelerates budget disbursement and implements measures to demonstrably boost the economy later this year.

The government announced this week that it will distribute 145 billion baht (US$4.3 billion) this month, a portion of its digital wallet stimulus program, to support vulnerable groups. This measure, originally scheduled for the last quarter of the year, is a key part of the government’s plan to revitalize the Thai economy.

Despite the government’s efforts, Thailand’s economic performance remains subdued. The economy grew by 2.3% in the second quarter of 2024, lagging behind other Southeast Asian nations. Last year, growth was a mere 1.9%, further highlighting the challenges faced by the Thai economy.

Read More