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ANZ-Roy Morgan Vietnam Consumer Confidence Unchanged

ANZ-Roy Morgan Vietnam Consumer Confidence is unchanged at 140.2 in May. Vietnamese Consumer Confidence remains well above its long-term average of 135.2.
HIGHLIGHTS

ANZ-Roy Morgan Vietnam Consumer Confidence is unchanged at 140.2 in May. Vietnamese Consumer Confidence remains well above its long-term average of 135.2.

  • In terms of personal finances now 36% (up 1ppt) of Vietnamese said their families are ‘better off’ financially than this time last year compared to just 18% (down 1ppt) who said their families are ‘worse off’ financially (the lowest for this indicator for more than a year since March 2014).

  • Of the respondents surveyed, 56% (down 1ppt) of Vietnamese expect their families to be ‘better off’ financially this time next year compared to only 5% (down 1ppt) who expect to be ‘worse off’ financially.

  • In addition, 53% (down 2ppts) of Vietnamese expect Vietnam to have ‘good times’ financially during the next 12 months and 12% (up 1ppt) expect ‘bad times’ financially.

  • In the longer-term, 61% (down 2ppts) of Vietnamese expect Vietnam to have ‘good times’ economically over the next five years compared to just 5% (unchanged) who expect ‘bad times’ economically.

  • Finally, 47% (unchanged) of Vietnamese say now is a ‘good time to buy’ major household items compared to 12% (down 3ppts) who said now is a ‘bad time to buy’ major household items.
Glenn Maquire, ANZ Chief Economist, South Asia, ASEAN & Pacific said:

“ANZ-Roy Morgan Vietnamese Consumer Confidence is holding steady as the economic recovery gains a surer footing.

"Our broad macro assessment is that the Vietnamese economy has now bottomed and we foresee an ongoing recovery for 2015 and 2016. The transmission mechanism of a firming economic recovery to consumer confidence should be relatively straightforward. Industrial production and manufacturing PMIs are soaring in Vietnam and firmer output will soon translate into higher income and employment. As this dynamic unfolds, we would expect to see both confidence and aggregate income formation improving over coming quarters. The ongoing firming recovery should create an environment where households become more confident to spend, further strengthening the recovery in domestic demand.

"The obvious caveat is that for an emerging economy, this transmission mechanism may play out with uncertain lags or be only partially transmitted given high savings rates. Still, the Vietnamese economy appears to be entering a sweeter spot and both consumer confidence and spending will play a key role in ensuring that is where the economy is likely to stay in the medium term.


"Vietnam is increasingly emerging as Southeast Asia’s most attractive economy.”

ANZ-Roy Morgan Vietnam Consumer Confidence Rating - May 2015 - 140.2

ANZ-Roy Morgan Vietnam Consumer Confidence Rating - May 2015 - 140.2

Click to view the latest ANZ-Roy Morgan Vietnamese Consumer Confidence Release PDF - May 2015.


Latest ANZ-Roy Morgan Consumer Confidence Releases

Latest ANZ-Roy Morgan Vietnam & Asia-Pacific Consumer Confidence Data Tables

Related Research Reports

The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.