Thai consumer confidence hits 17-month low in Sept, declining 7th month consecutively, due to economic growth concerns and flooding.

Thai consumer confidence fell to a 17-month low in September, dropping to 55.3 from 56.5 in August, marking the seventh consecutive monthly decline. This decline is attributed to worries about sluggish economic growth and flooding. The Thai government has initiated a US$14 billion stimulus program, which includes cash payments to millions, aiming to enhance economic activity. However, the economy expanded by only 2.3% in Q2 2024, with a projected growth of 2.6% for the year.