FX.co ★ Thailand Consumer Mood Drops to 7-Month Low

The consumer confidence index, as reported by the University of the Thai Chamber of Commerce, dropped to 55.4 in April 2025, down from 56.7 in March, marking the third consecutive month of decline. This represents the lowest index level since last September, reflecting a tentative economic recovery and growing concerns regarding US-imposed tariffs. Recently, Thailand's Finance Minister, Pichai Chunhavajira, highlighted that these tariffs could potentially reduce GDP growth by 1 percentage point. In the previous year, Thailand recorded a trade surplus of USD 5 billion with the US. For the year 2024, Thailand's GDP grew by 2.5%, failing to meet the official growth target of 2.7%. In terms of pricing trends, consumer prices in Thailand fell by 0.22% year-on-year in April, marking the first instance of deflation since March 2024 and dipping below the central bank's target range of 1% to 3%.