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In December 2025, private consumption indicators in Thailand rose by 2.5% month-on-month, reversing a slight decline of 0.3% in November and representing the most significant increase since April 2022. This growth was evident across all categories of expenditure. Services spending, particularly in hotels and restaurants, saw a notable uptick, bolstered in part by government stimulus initiatives. The consumption of durable goods also increased, spurred by a rise in vehicle sales, notably due to a surge in electric vehicle purchases ahead of the expiration of the EV 3.0 incentive scheme and the introduction of new models at the Motor Expo. Additionally, spending on non-durable goods rose, driven by higher sales of fuel and consumer goods, while semi-durable goods benefited from an increase in imports of textiles and apparel. Looking forward, the situation requires careful observation, as purchasing power remains somewhat fragile, there may be a normalization in vehicle purchases, and consumer confidence has seen a decline from the previous month.
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