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ANZ-Roy Morgan Thailand Consumer Confidence converges towards two-year average
December 23 2015
- Finding No.
Consumer Confidence Press Release
The monthly ANZ-Roy Morgan Thailand Consumer Confidence Index is based on 1,000 telephone interviews conducted throughout Thailand. Men and women aged 14 and over were randomly selected during the month of December 2015.
ANZ-Roy Morgan Thailand Consumer Confidence has fallen slightly to 111.3 in December (down 1.0pt) to finish 2015 almost right on its long-term average of 111.1. However, Consumer Confidence is now 6.1pts lower than this time last year in December (117.4).
ANZ Chief Economist, South Asia, ASEAN & Pacific, Glenn Maguire said:
- In terms of personal finances, 33% (up 4ppts) of respondents said their families are ‘better off’ financially than this time last year (the highest number recorded for this indicator since March 2015) compared to 38% (up 1ppt) that said their families are ‘worse off’ financially than a year ago.
- Now 50% (down 1ppt) of respondents said they expect their families to be ‘better off’ financially this time next year time compared to 19% (up 2ppts) who expect to be ‘worse off’ financially.
- Thinking of economic conditions in Thailand going forward, 45% (down 4ppts) expect Thailand to have ‘good times’ financially over the next 12 months, compared to 37% (up a large 7ppts) that expect ‘bad times’ financially.
- Thai respondents are still very positive about the long-term, with a large majority of respondents (68%; down 2ppts) expecting Thailand to have ‘good times’ during the next five years and only 10% (up 2ppts) expecting ‘bad times’ for Thailand (the equal highest recorded for this indicator since April 2014).
- Presently, 27% (up a large 8ppts) of respondents say now is a ‘good time to buy’ major household items (the highest number recorded for this indicator since March 2015) compared to a majority of 63% (down 2ppts) of respondents that say now is a ‘bad time to buy’ major household items (the lowest for this indicator since April 2015).
“We believe that Thailand’s consumers are poised to play a more important role in both stabilising and supporting the economy in 2016. Consumer confidence has finished 2015 near its two-year average level, but within the data we find a large increase in the number of Thais who believe now is a good time to buy a major household item.
"If realised, like the economy, consumer spending will turn the corner in early 2016, and this will help a recovery in the economy itself, given private consumption is more than 50% of GDP.
"The surge in the proportion of households expressing keenness to purchase a major household item is one of the firmest domestic signals yet that the significant easing of fiscal policy that has progressively been rolled out across Thailand is now starting to gain traction via income effects. Following the surge in the willingness to purchase a household item, both current and forward-looking assessments of personal and family financial situations also improved significantly.
"Our final ANZ-Roy Morgan Consumer Confidence survey for Thailand certainly suggests that from a consumption front, there is something to smile about in the Land of Smiles.”
Click to view the latest, and the final, ANZ-Roy Morgan Thailand Consumer Confidence Release PDF - December 2015.
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The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.
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