Consumer confidence slips: report

Thanh Nien News

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Women sit at a store selling coffee and snacks at Ben Thanh market in Ho Chi Minh City, Vietnam. Women sit at a store selling coffee and snacks at Ben Thanh market in Ho Chi Minh City, Vietnam.

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The Vietnam Consumer Confidence Index has fallen to 135.6 points this month, down 5.3 percentage points compared to last month, according to the latest statistics released by ANZ and Roy Morgan.
This month’s decrease was primarily driven by a fall in confidence about economic conditions in Vietnam over the next 12 months and the next five years, said the report issued by ANZ Wednesday.
However, the index is slightly above the 2014 average of 133.3 points.
As many as 50 percent of questioned people, down 13 percentage points, said Vietnam will have good times financially during the next 12 months and 15 percent, up 10 percentage points expected bad times financially, the highest for this indicator since June 2014.
A growing majority of Vietnamese, 59 percent, down 9 percentage points expect Vietnam will have good times economically over the next five years compared to 8 percent who expect bad times economically.
Glenn Maguire, ANZ Chief Economist, South Asia, ASEAN and Pacific said: “After a tumultuous year, Vietnamese consumers have ended the year on a slightly softer footing compared to November but are facing December with confidence slightly above average levels.”
“The Vietnamese economy, and the consumer in particular, continues to slowly but surely transition back to normal after a difficult few years after the credit crunch,” Glenn Maguire said.

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