FX.co ★ Thailand Personal Spending Slows in January

Private consumption in Thailand increased by 1% month-on-month in January 2026, easing from a 2.5% rise in December. This was the most modest expansion since May 2025, as spending lost momentum after the expiration of government stimulus measures, resulting in weaker expenditure on non-durable and semi-durable goods. In contrast, demand for durable goods remained solid, supported by stronger vehicle sales—particularly passenger cars—as consumers brought forward purchases ahead of the EV 3.0 incentive scheme and as existing orders continued to be delivered. Services consumption also improved, bolstered by higher spending at hotels and restaurants in line with stronger foreign tourism revenues. At the same time, consumer confidence edged higher, underpinned by optimism surrounding the formation of a new government and expectations of additional policy support.