Consumer Confidence Falls in Thailand, Switzerland Amid Economic Concerns

Consumer confidence declined in both Switzerland and Thailand in July 2025, reflecting economic and political concerns. Swiss consumer sentiment fell slightly to -33.0, marking the first drop in three months, primarily due to a negative economic outlook despite improvements in financial conditions and purchasing timing. In Thailand, consumer confidence dropped to its lowest level in over two years at 51.7, continuing a six-month decline driven by worries over U.S. tariffs, a sluggish domestic economy, and political instability following the suspension of Prime Minister Paetongtarn Shinawatra. The U.S. tariff reduction on Thai imports from 36% to 19% has not fully alleviated concerns, especially regarding tariffs on transshipped goods, which remain unclear. University of the Thai Chamber of Commerce President Thanavath Phonvichai emphasized the need for economic stimulus amid stagnation, projecting a modest GDP growth of 1.7% for 2025, down from 2.5% in 2024. The political turmoil and uncertain outlook continue to weigh heavily on consumer confidence in Thailand.