Vietnam consumer confidence tops Asia in December

The ANZ Bank on December 23 announced that the ANZ-Roy Morgan Vietnam Consumer Confidence rose to a record high of 144.8 points, up 2.5 points, in December.

35 percent of Vietnamese consumers said their families are ‘better off’ financially than a year ago. (Photo: Cao Thang/SGGP)

The index is now well above its two-year average of 136.6, and is now a large 9.2 points above its figure in December 2014. This is also the first time that the index has hit the highest level in the Asian region.
Particularly, in term of personal finances, 35 percent of Vietnamese consumers said their families are ‘better off’ financially than a year ago compared to 14 percent (up 3 percent compared to last year) who said their families are ‘worse off’ financially. 59 percent (up 3 percent) of Vietnamese consumers expect their families will be ‘better off’ financially this time next year compared to just 4 percent (up 1 percent) who expect to be ‘worse off’ financially.
In term of general economy, 61 percent (up 6 percent) said Vietnam will have ‘good times’ financially over the next 12 months.
Glenn Maguire, ANZ Chief Economist, South Asia, ASEAN and Pacific, said that all five questions in the December survey show significantly improved confidence compared to the previous month. Noticeably, questions about the country’s economy and financial prospects in long term received the most encouraging responses.
He said that the final reading of the Vietnam consumer confidence index left them in no doubt that Vietnam will be one of outperforming economies in Asia in the period of 2016-2017.

By Ham Yen – Translated by Thuy Doan

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