FX.co ★ Thailand Business Confidence Turns Neutral

In November 2025, Thailand's business confidence indicator reached a neutral level of 50, improving from 48.7 in the preceding month. This recent reading brings an end to seven months of persistent pessimism. Sentiment has notably strengthened across various areas, including performance (51.4 compared to 51.2 previously), production (51.6 up from 50.2), employment (improving to 50 from 49.6), investment (rising to 52 from 51.8), and overall order books (increasing to 50 from 47.7). By sector, the non-manufacturing index showed significant improvement, particularly driven by the hotel and restaurant industries along with the retail sector. Meanwhile, the manufacturing index remained steady, buoyed by robust performance in the food industry, which was supported by the Half-Half Plus scheme and the impact of supply disruptions due to flooding in various areas. Conversely, confidence within the automotive industry declined, affected by weaker production and performance metrics. Looking to the future, the three-month forward-looking business sentiment index climbed to 53.4 in November, up from 52.5 in October, marking its highest level since February 2024.