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Thailand’s business confidence indicator turned neutral at 50 in November?2025, from 48.7 in the previous month. The latest reading ended seven consecutive months of pessimism, with sentiment strengthening in performance (51.4 vs 51.2), production (51.6 vs 50.2), employment (50 vs 49.6), investment (52 vs 51.8), and overall order books (50 vs 47.7). By sector, the non-manufacturing index strengthened sharply, led by the hotel and restaurant industry and the retail sector. Meanwhile, the manufacturing index remained stable, as the food industry performed well, mainly aided by the Half-Half Plus scheme and supply disruptions caused by flooding in various regions. However, confidence in the automotive industry declined, driven by weaker production and performance sub-indices. Looking ahead, the three-month forward-looking business sentiment index rose to 53.4 in November from 52.5 in October, reaching its highest level since February?2024.