05.01.202610:33:13UTC+00Thailand Business Morale Weakens in December

In December 2025, Thailand's business confidence indicator experienced a slight decline, dropping to 49.8 from 50 in November. This dip below the neutral threshold indicates a downturn in business sentiment. The outlook for future performance showed a minor shift towards pessimism, with the index decreasing to 49.9 from 51.4. Expectations regarding production costs remained negative, with a score of 42.4 compared to 42.5 previously. Optimism waned across various areas: production fell to 51.4 from 51.6, investment dropped to 51.8 from 52, and order books decreased to 51.5 from 52. However, the employment outlook demonstrated improvement, rising to 51.6 from 50. In terms of sectors, the manufacturing industry witnessed growth driven by an increase in exports of food, electrical appliances, and rubber. The non-manufacturing sector also saw significant growth, largely propelled by hotels, restaurants, and retail, buoyed by government-driven tourism initiatives. Notably, the three-month forward-looking sentiment index climbed to 54.4 from 53.4, reaching its highest level since September 2023.