Vietnam Consumer Confidence rises to a new high: ANZ

December 24, 2015 | 19:00

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ANZ-Roy Morgan Vietnam Consumer Confidence has finished 2015 at 144.8 points, the highest score in Asia for the first time, according to ANZ Research in a press release.

The index increased 2.5 points from November to a record high of 144.8 points in December, well above its two-year average of 136.6, and is now a large 9.2 points above its figure last December (135.6).

The rise in December was driven by improving confidence in the Vietnamese economy over the next 12 months and five years.

According to Glenn Maguire- chief economist at ANZ’s South Asia, ASEAN & Pacific, Vietnamese consumer confidence ends 2015 not only at a yearly high, but at a two-year high in the history of the series.

“All five questions of the survey saw strong improvements over the month of November, but most encouraging were the questions on the longer term economic and financial outlook.

“With 61 per cent of respondents (up 6ppts) expecting the next 12 months to be a ‘good time’ financially and 66 per cent of respondents expecting the economy to have ‘good times’ over the next five years, Vietnam finds itself on the cusp of 2016 with the household sector not only likely to be a growth stabiliser, but more importantly a contributor to growth given that consumption accounts for 65 per cent of GDP,” said Maguire.

“Our final reading of the Vietnam consumer confidence index leaves us in no doubt that Vietnam will be one of Asia’s outperforming economies in 2016-17,” he added.

By By Mai Thuy

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