Bank of Thailand reports September 2026 business confidence index fell to 48.1 amid Middle East tensions
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The Bank of Thailand reported that the business confidence index for September 2026 stood at 48.1, down from 49.8 the previous month, declining in nearly every business category, led by production, earnings, and costs. Pressure came from renewed tensions in the Middle East conflict, as well as fading momentum from the Thai government's Thai Help Thai Plus stimulus measures. In the non-manufacturing sector, confidence fell across several categories, led by the transport group facing higher costs, particularly diesel prices, which account for more than 50% of land transport costs, and the retail group, which declined on lower order volumes for consumer goods. In the manufacturing sector, the decline was led by the agricultural products group due to drought conditions caused by El Niño, and the auto parts group amid rising imports of electric vehicles. Meanwhile, the three-month forward-looking index rose slightly to 50.8, increasing in all components except costs, which fell sharply. The index has remained below 50 for ten consecutive months, reflecting still-weak domestic purchasing power.