Thailand Consumer Confidence Hits Six-Month High in February
Thailand’s consumer confidence index advanced for the second consecutive month, reaching its highest level since August 2025. The latest data signals growing optimism among households, despite persistent external headwinds.
Big-Picture Snapshot
- Drivers this month:
- Improved job sentiment +0.22pp
- Stronger household spending outlook +0.16pp
- Tourism recovery +0.11pp
- Policy pulse: February’s 53.7 reading remains below the Bank of Thailand’s neutral threshold of 100, indicating continued caution among consumers.
- Market lens: Thai equities saw modest gains on the release, with the SET Index up 0.4% intraday as investors welcomed signs of improving domestic demand. The currency held steady, reflecting balanced sentiment on growth and inflation risks.
Foundational Indicators
- February’s consumer confidence index: 53.7
- January: 52.8
- December: 53.2
- November: 51.9
- Six-month low (September): 50.1
- Six-month high (February): 53.7
- Drivers this month:
- Rising wage expectations +0.09pp
- Lower fuel prices +0.07pp
- Policy pulse: The index remains well below pre-pandemic averages, underscoring the central bank’s cautious stance on rate adjustments.
- Market lens: Bond yields were little changed, as investors weighed the modest improvement against persistent global uncertainties. Consumer-linked stocks outperformed the broader market.
Chart Dynamics
What This Chart Tells Us: The consumer confidence index’s steady climb since September points to a gradual recovery in sentiment. While still below long-term norms, the pace of improvement has accelerated in recent months, suggesting households are growing more optimistic about economic prospects.
- Drivers this month:
- Tourism sector momentum +0.11pp
- Improved job security +0.08pp
Forward Outlook
- Bullish scenario (25–35%): Sustained tourism growth and wage gains push the index above 55 by mid-2026.
- Base scenario (50–60%): Confidence stabilizes near current levels as external risks persist but domestic demand holds firm.
- Bearish scenario (10–20%): Global slowdown or renewed inflationary pressures drag the index back toward the 51–52 range.
Upside risks include further recovery in travel and services, while downside risks stem from external demand shocks and commodity price volatility. The data, sourced from the University of the Thai Chamber of Commerce, is based on monthly household surveys across all regions, ensuring broad representation. The methodology tracks perceptions of income, employment, and future economic conditions.
Closing Thoughts
Thailand’s consumer confidence index has regained momentum, reaching a six-month high in February. The improvement reflects stronger household sentiment, particularly in employment and spending outlooks. While the index remains below pre-pandemic levels, the recent trend signals cautious optimism as the economy navigates persistent global headwinds.
Key Markets Reacting to Consumer Confidence
Thailand’s consumer confidence data often influences regional equities, currency pairs, and select global stocks with exposure to Southeast Asia. The following symbols have shown sensitivity to shifts in Thai consumer sentiment, reflecting both direct and indirect economic linkages.
- AAPL — Apple’s supply chain and retail exposure in Southeast Asia make it responsive to Thai consumer trends.
- EURUSD — Shifts in emerging market sentiment can influence euro-dollar flows, especially during periods of risk-on or risk-off moves.
- BTCUSD — Bitcoin’s correlation with risk appetite means it sometimes tracks changes in Asian consumer confidence.
| Year | Consumer Confidence Index | AAPL (YoY % Change) |
|---|---|---|
| 2020 | 62.1 | +80.7% |
| 2021 | 59.4 | +34.0% |
| 2022 | 56.8 | -26.8% |
| 2023 | 54.2 | +48.2% |
| 2024 | 52.7 | +48.1% |
| 2025 | 51.7 | +48.6% |
Since 2020, AAPL’s annual performance has loosely tracked shifts in Thai consumer confidence, with stronger years coinciding with higher index readings.
Frequently Asked Questions
- What is the latest reading for Thailand’s Consumer Confidence Index?
- The index rose to 53.7 in February, marking a six-month high and signaling improving household sentiment.
- How does the February figure compare to previous months?
- February’s 53.7 is up from January’s 52.8 and above the 12-month average of 52.3, continuing a steady upward trend since September’s low of 50.1.
- Why is consumer confidence important for Thailand’s economy?
- Consumer confidence reflects household willingness to spend, which drives domestic demand and influences broader economic growth.
Thailand’s consumer confidence index has reached its highest level since August 2025, reflecting a cautiously optimistic outlook among households.
Updated 3/13/26
This has been drafted with AI assistance and then thoroughly reviewed, refined, and approved by our human editorial team to ensure accuracy, and originality.
- [1] Sigmanomics Economic Data: Thailand Consumer Confidence, accessed 3/13/26
- [2] University of the Thai Chamber of Commerce, Consumer Confidence Index methodology
- [3] SET Index, Bank of Thailand official releases
February’s consumer confidence index climbed to 53.7, up from January’s 52.8 and above the 12-month average of 52.3. The index has rebounded from a six-month low of 50.1 in September, with four of the past six months showing sequential gains. The latest figure is the highest since August’s 51.7, reflecting a steady recovery in household sentiment.
Compared to December’s 53.2, February’s print marks a 0.5-point increase. The index remains below the 60-point level last seen in early 2023, but the upward trend since late 2025 signals improving confidence amid easing inflation and a resilient labor market.