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7 Dec 2023

Thai Economy

KR-ECI increased for the third consecutive month in November 2023, thanks to the government measures


        The KR Household Economic Condition Index (KR-ECI) for November 2023 increased for the third consecutive month to 39.4, albeit below pre-COVID-19 levels, because the ongoing government measures, aimed at alleviating expenses for households, helped ease their concern about product prices and expenses (excluding debt). However, the 3-month Expected KR-ECI fell slightly to 40.8 as financial costs of households remained tight amid uncertainty surrounding assistance measures to be implemented by the government in 2024.  
        An additional poll conducted by KResearch shows that 59.4 percent of households were most concerned about the rising cost of living while 22.2 percent were struggling to make ends meet. Additionally, they were worried about hefty debt and erratic weather conditions.
        For the final month of 2023, KResearch expects that the KR-ECI will continue to improve in line with the direction of the Thai economy and ongoing government measures, aimed at reducing the cost of living. However, close attention must be paid to a number of challenges, including uncertainty about various government measures, high household debt and unpredictable weather patterns.  

Thai Economy