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8 Jan 2024

Thai Economy

KR-ECI fell slightly in December 2023 as households incurred more expenditures during the year-end festive season


        The KR-ECI for December 2023 declined slightly to 38.7 after increasing for the third  consecutive month as households incurred more expenses during the year-end holiday season. Meanwhile, the 3-Month Expected KR-ECI remained static from the previous month at 40.5 because the government’s measures, aimed at cutting energy bills, continued to ease household concern over commodity prices.  
        Another survey conducted by KResarch on households’ views towards the cost of living in 2024 shows at that the majority of households (68.7 percent) will incur more expenditures because of the increase in energy costs, uncertainties about the government’s measures and weather conditions.
        For 2024, KResearch expects that the KR-ECI will continue to improve in line with the Thai economic outlook and various measures implemented by the government to help reduce the cost of living for households. However, the KR-ECI may be affected by several challenges, including volatile energy prices in global markets and hefty household debt. Close attention must be paid to the government’s spending stimulus measures to be implemented during 2H24.  

Thai Economy