Thai Consumer Confidence Hit 40-Month High in June

Consumer Confidence in Thailand reached a 40-month high of 56.70 in June, up from 55.50 in May, the University of the Thai Chamber of Commerce (UTCC) reported on Thursday, thanks to the influx of foreign tourists and a slightly weakening baht.

The reading in June was the highest it has been since March 2020, marking the thirteenth consecutive month of increase.

The index was buoyed by a combination of factors, including rising international tourist arrivals, higher prices for agricultural products, steady domestic retail oil prices, and a modest depreciation of the baht.

The private poll warned, however, that there remains pressure from rising costs of living, uncertainty over the formation of a new government, the exports sector, and a global economic downturn.