9 May 2024
Thai Economy
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10 Apr 2023
KR-ECI fell in March 2023; Thai households were more concerned about their debt burden ... Read more
13 Feb 2023
KR-ECI in January 2023 improved, driven by the Thai economic recovery, with Thai households’ improved perception towards income and employment. However, households minimized spending, such as refraining from buying luxury items and reducing energy consumption, amid high cost of living... Read more
9 Dec 2022
KR-ECI hit 14-month high in November 2022, but remained below pre-COVID-19 levels. Most households have year-end gathering plans in place ... Read more
11 Nov 2022
KR-ECI remained static in October. Households were still concerned about expenses, income and, employment, plus future savings due to the impact of flooding in many provinces ... Read more
11 Oct 2022
September KR-ECI remained static from the previous month. Flooding presents risk to household income and spending ... Read more
7 Sep 2022
KR-ECI recovered for two straight months in August 2022, supported by higher employment and the fact that prices of several products began to increase at a slower rate from the previous month... Read more
10 Aug 2022
The KR-ECI and 3-month Expected KR-ECI in July 2022 improved to 32.5 and 34.0, from their lowest-ever levels at 30.8 and 32.9 reported for June 2022, due to energy prices that were slightly lower than June, albeit remaining high. Additionally, further relaxation of Thailand’s entry restrictions has resulted in a steady increase in foreign tourists, leading to improved household perception towards income and employment. However, components of the KR-ECI showed that most households still viewed that overall expenses were increasing, while more households were concerned about the future, and have thus increasingly reduced their spending at present.... Read more
7 Jul 2022
The KR-ECI fell to its lowest-ever level. Although the COVID-19 transition from pandemic to endemic will partly support employment, rising product prices, as reflected by the inflation rate which hit a 14-year high, will continue to pressure the KR-ECI. ... Read more
9 Jun 2022
KR-ECI fell for the third consecutive month in May as product prices continued to increase while several government relief measures gradually expired ... Read more
10 May 2022
April KR-ECI has remained low for two straight months amid elevated goods prices. Economic and living conditions of households are still fragile after the government scrapped subsidies for several necessities such as fuels and cooking gas ... Read more
11 Apr 2022
KR-ECI declined in March as households were still concerned about rising product costs... Read more
10 Feb 2022
Prices of goods continue to rise, while incomes decline – putting pressure on KR-ECI, which fell to a historic low in January 2022... Read more
12 Jan 2022
For December 2021, KR-ECI continues to reflect concerns over the rising cost of living, particularly prices of food and beverages. During the recent New Year holiday, households were still worried about increasing expenses. As a result, December’s KR-ECI dropped to 33.9 percent from 34.7 percent in November 2021 (based on a survey conducted at the end of December 2021, and excluding the impact the rapidly rising number of Omicron cases on economic activity).... Read more
9 Nov 2021
In October 2021, Thai households harbored increased concerns towards the economy and their living conditions, due to continuously rising energy prices and impact of recent floods, which have driven up vegetable prices. KR-ECI in October 2021 and the 3-month Expected KR-ECI dropped to 34.9 and 36.7, from 36.6 and 38.4, respectively, in September 2021. Although the number of daily COVID-19 cases has begun to stabilize, and the COVID-19 situation has improved considerably as a result of accelerated vaccination which prompted the gradual easing of restrictions on economic activity, prices of goods have risen and thereby affected household spending. ... Read more
9 Jul 2021
“Fragile employment has affected the spending behavior of households Government’s new relief measures along with procurement and rollout of quality vaccines are urgently needed... Read more
10 Jun 2021
The relaxation of COVID-19 containment measures around mid-May and gradual implementation of the government’s relief measures helped push the KR-ECI up slightly to 37.3 in May, though remained low, compared to the 37.0 reported for April. Meanwhile, the 3-month Expected KR-ECI for May remained static from that recorded in April at 39.4, suggesting that households were still concerned about the future cost of living amid the third wave of COVID-19 that emerged in early April 2021. They were also particularly anxious about savings, which had begun to decline substantially from the previous month. ... Read more
11 May 2021
The latest wave of COVID-19, which began in April, caused the April KR-ECI to plunge to 37.0 from the 40.4 reported in March. Household purchasing power was significantly weakened by the severe impact of COVID-19 while relief measures were yet to be implemented amid surging energy costs. All KR-ECI components declined, in particular on income and employment, plus household expenses (excluding debt). Increased concerns over such matters were consistent with the Consumer Price Index that hit a record high in eight years. Such concerns could further undermine household purchasing power over the near term.... Read more
9 Apr 2021
The COVID-19 situation has intensified with a considerable rise in the number of cases. The epicenter of the new wave is Bangkok, and it has spread nationwide at a rapid rate, once more plunging the economy and households’ confidence into a high degree of uncertainty. In the forthcoming period, KR-ECI will undeniably be affected by the recent spread of COVID-19, as Thai households tend to harbor increased concerns over economic conditions and their own livelihoods – which would then have adverse effects on the economy as a whole. While the survey conducted towards the end of March 2021 may indicate a positive outlook from households towards the 3-Month Expected KR-ECI, it does not reflect the latest outbreak’s impacts on household livelihood over the course of the next two to three months. ... Read more
9 Mar 2021
The KR Household Economic Condition Index (KR-ECI) in February 2021 and the 3-month Expected KR-ECI both rose from the previous month to 39.5 and 41.3, respectively. These figures indicate that Thai households’ concerns over their livelihood have declined from the previous month as the COVID-19 situation begins to improve. The falling number of COVID-19 cases has contributed to the easing of measures in disease-control zones and resumption of economic activity. The Thai government’s relief measures have been issued effectively and in rapid succession. Meanwhile, vaccines started to arrive in Thailand during late February 2021, and have subsequently been distributed to several provinces (based on surveys conducted during late February 2021). ... Read more
9 Feb 2021
The KR Household Economic Condition Index (KR-ECI) in January 2021 and the 3-month Expected KR-ECI both fell from the previous month to 37.2 and 38.8, respectively. Almost every component of the Index dropped, particularly employment and income level post COVID-19 resurgence since mid-December 2020. Certain economic activities were once again disrupted as COVID-19 prevention and control measures were reintroduced.... Read more
8 Jan 2021
The KR-ECI and 3-month Expected KR-ECI fell to 40.2 and 40.7, respectively, in December 2020. All components of the KR-ECI also dropped. Households were more concerned about employment and income because of the resurgence of COVID-19 around mid-December 2020 (according to the survey conducted during the final week of December 2020).... Read more
14 Dec 2020
The KR-ECI improved for the fifth consecutive month in November 2020, standing at 41.0, which was almost on par with the pre-COVID level of 40.6 in January 2020, because households, especially those in the agricultural sector, were more optimistic about employment and income. The improvement was also attributable to higher purchasing power, supported by the government economic stimulus measures. ... Read more
11 Nov 2020
The KR-ECI and 3-month Expected KR-ECI increased for the fourth consecutive month in October 2020 because households, in particular those in the agricultural sector, were more optimistic about employment and income. The improved sentiment seen in agricultural households was consistent with steady increases in agricultural prices during 3Q20, including rice, vegetables and fruits, especially rubber prices, which surged to the highest level in more than three years during October 2020. However, sentiment of households in Greater Bangkok towards employment and income did not improve, which was in alignment with the results of an additional survey conducted by KResearch, showing steady increases in the number of employees being laid off. ... Read more
9 Oct 2020
The KR-ECI in September 2020 improved slightly over that reported for August 2020, implying that Thai households were more optimistic about their living conditions. The 3-month Expected KR-ECI also increased in alignment with the gradually recovery seen in economic activities after the government lifted lockdown restrictions and introduced a serried of measures to stimulate tourism and domestic purchasing power. However, the KR-ECI and 3-month Expected KR-ECI were still below 50 and pre-COVID-19 levels, suggesting that economic conditions and living conditions of households have not returned to normalcy yet. ... Read more
10 Aug 2020
The KR-ECI stood at 35.3 in July 2020, declining from 36.0 recorded in June 2020 because households were more concerned about debt, expenses and domestic prices of goods and services. Although the Bank of Thailand’s (BOT) has introduced the second phase of assistance measures for borrowers, debt servicing ability of most households is still inhibited by issues related to income and employment. ... Read more
10 Jul 2020
KR-ECI in June 2020 stood 36.0, maintaining a similar level to 36.1 in May 2020. Over the previous month, the government has exercised further relaxation of preventive measures on activities and businesses in the yellow band (Phase 3) and the red band (Phase 4), as well as the revocation of the decree that prohibits people from leaving their homes (lifting of curfew). ... Read more
15 Jun 2020
The KR-ECI increased to 36.1 in May 2020, over 35.1 reported for April 2020 because households were less concerned about income and employment after the government gradually introduced the first and second phases of easing the country’s lockdown for businesses classified in the “White” and “Green” groups so that they could resume operations as usual in May 2020. ... Read more
17 Apr 2020
The severe impact of the coronavirus (COVID-19) pandemic abroad, especially in the US and Europe, plus social distancing measures to combat the viral disease, has dealt a big blow to the Thai economy and living conditions of Thai households at this time and over the next three months.... Read more
16 Mar 2020
The COVID-19 outbreak that intensified worldwide through February 2020 represents an important risk factor which is putting pressure on KR-ECI and 3-month Expected KR-ECI, falling to its lowest level in 73 months. The households surveyed expressed increasing anxieties in all aspects related to the cost of living now and over the next three months particularly over income and employment as well as rising costs of personal healthcare. ... Read more
12 Feb 2020
The KR-ECI and 3-month Expected KR-ECI slipped to the lowest level in 72 months. The households surveyed were worried about all aspects related to the cost of living now and over the next three months, ... Read more
15 Jan 2020
• KR-ECI in December 2019 stood 42.4, up from 42.0 in November 2019. Households became less worried about their income and employment, partly due to seasonal factors, namely, the annual pay raise of private companies. Additionally, prices of various agricultural produce increased, boosting the farmers’ income. Despite the rise in KR-ECI in December 2019 when compared to the previous month, the index was considerably lower than 46.0 registered in the same period of the previous year.... Read more
12 Dec 2019
The 3-month Expected KR-ECI slipped for the second consecutive month to 42.1 in November, representing the lowest level in 27 months and declining from 43.5 reported for October. The decline was attributable to heightened concern among Thai households towards income and employment over the next three months, in particular possible job cuts or layoffs without a prior notice.... Read more
12 Nov 2019
The KR-ECI in October 2019 dropped from 42.3 in September 2019 to 41.8 due to increased concerns of households over their income and employment, spending, savings and domestic product and service prices.... Read more
11 Oct 2019
The KR-ECI in September 2019 edged up from 41.9 in August 2019 to 42.3 in September due to declining concerns of households over their expenses, savings, debt burden and domestic prices. Nonetheless, they are more worried about their income and employment. This change shows that households have adjusted their spending behavior by ... Read more
9 Sep 2019
The KR-ECI came in at 41.9 for August, increasing slightly over 41.5 reported in July because Thai households were less concerned about domestic goods and service prices amid falling energy costs. The rise was also attributable to the fact that some households were less anxious about income and employment, thanks partly to the government measures, including cash giveaways for low-income earners under the welfare card program and assistance measures for drought-stricken farmers. In addition, substantial increases in prices of several farm products during the previous month helped bolster farm income for some households over the short term. ... Read more
8 Aug 2019
The KR-ECI slipped for the second month in a row from 43.1 in June to 41.5 in July 2019, which is the lowest level in 66 months, owing to household concerns on all economic aspects, particularly the issues of income and employment, expenses and debt burdens.... Read more
12 Jul 2019
The KR-ECI and 3-month Expected KR-ECI slipped to 43.1 and 44.9 in June because Thai households were more concerned about economic conditions and their cost of living now and in the future, in particular domestic prices of goods, expenses (excluding debt), income and employment. ... Read more
13 Jun 2019
The KR-ECI increased slightly to 43.7 in May 2019 over the reading of 43.5 reported for April 2019, thanks to 2019 mid-year economic stimuli that directly and indirectly helped ease the high cost of living of Thai households somewhat. In addition, some households were less anxious about debt because they already made installment payments for loans used to pay tuition fees for their children in April 2019. ... Read more
13 May 2019
The KR-ECI and 3-month Expected KR-ECI slipped to 43.5 and 45.7 in April 2019 because households were more concerned about their living conditions, including income, employment, prices of goods and services, expenditures and debt. ... Read more
12 Apr 2019
KResearch views that issues that must be monitored closely in 2019. These include drought, which has arrived early and is expected to last longer than the previous year, because it will affect farm income and the cost of living of households resulting from higher raw food prices. Another issue is the outcome of the general elections scheduled for March 24, 2019 because it will dictate the Thai economic direction from 2H19 onward. ... Read more
14 Mar 2019
12 Dec 2018
The KR-ECI and 3-month Expected KR-ECI improved in November due to ebbing energy prices and new government measures, aimed at assisting low-income earners and farmers. The KR-ECI rose to 45.7 in November over 45.3 reported for October and the 3-month Expected KR-ECI (December 2018-February 2019) came in at 47.4, bettering 46.9 recorded in the October. ... Read more
14 Nov 2018
The 3-month Expected KR-ECI edged up slightly to 46.9 in October over 46.5 reported for September. This is because households were more optimistic toward income and employment over the next three months (November 2018 - January 2019) partly as a result of the fact that non-farm households that will get annual paid rises while agricultural households will earn more from the upcoming harvest season.... Read more
10 Aug 2018
KR-ECI in July 2018 edged up for the first time in 6 months from 44.7 in June to 45.1 due to household anticipation of better income and employment, in addition to their easing concerns about prices of products and services in the country. The 3-month Expected KR-ECI slipped to 46.3 in the July survey, due to household worries about impacts from severe weather and the amount of storm water, which can disrupt household occupations over the next three month ... Read more
12 Jun 2018
The KR-ECI and 3-month Expected KR-ECI slipped to 44.9 and 46.2 for May chiefly because of substantial increases in the domestic prices of goods and services, in particular energy. Household income and employment, however, improved, due in part to continuing recovery in the Thai economy and higher farm output, which helped offset falling agricultural produce prices and buoy farm income.... Read more
4 May 2018
The 3-month Expected KR-ECI increased to 46.9 in April 2018 because households expected that their expenditures (excluding debt) would decline over the next three months after the Songkran spending spree and making tuition fee payments for their children.... Read more
11 Apr 2018
KR Household Economic Condition Index (KR-ECI) slipped to 45.6 in March, due partly to concern toward global trade that has become ever more complex and could affect the Thai economy in any way, while there has been no new stimulus in the country. In addition, households incurred extra expenses (excluding debt) on trips to popular locales and holidays planned for the Songkran Festival. ... Read more
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