Vietnam’s Consumer Confidence Index rebounded sharply in June, driven by rising personal financial confidence, according to the latest statistics released by ANZ and Roy Morgan.
The financial institutions released their rankings for the Vietnam Consumer Confidence Index at a press conference in Hanoi on July 11.
The Vietnam CCI rebounded sharply to 131.0 (up 7.7 points) in June, sliding wast the 2014 average of 130.5.
The institution ranked Vietnam third in Asia behind Indonesia and China.
The monthly rating is based on 1,000 face-to-face interviews conducted in seven major cities and provinces in Vietnam. Men and women aged 14 and over were randomly selected during June for the interviews.
According to ANZ, the increase in Vietnam's CCI was primarily driven by rising confidence in household finances: 48 percent (up 9 percentage points) of Vietnamese expect their families will be ‘better off’ financially this time next year compared to 8 percent (down 6 percentage points) who expect to be ‘worse off’ financially.
Also, 32 percent (up 4 percent) of Vietnamese said their families are ‘better off’ financially than a year ago compared to 20 percent (down 7 percent) who say their families are ‘worse off’ financially.
An increasing majority, 57 percent (up 5 percent) of Vietnamese expect to face ‘good times’ economically during the next five years compared to only 11 percent (down 1 percentage points) who expect ‘bad times’ economically.
An increasing number of Vietnamese, 38 percent (up 5 percent), say that now is a ‘good time to buy’ major household items compared to 14 percent (down 2 percentage points) who say now is a ‘bad time to buy’ major household items.