Vietnam Consumer Confidence: A new record high

Vietnamese Consumer Confidence remains well above its long-term average of 135.7 and is more than 10pts above its figure for June 2014 (131.0).

The increase in June was driven by more confidence about the Vietnamese economy over the next 12 months and the next five years and also more confidence about personal finances over the next 12 months.

In terms of personal finances now 36% (unchanged) of Vietnamese said their families are ‘better off’ financially than this time last year compared to just 22% (up 4ppts) who said their families are ‘worse off’ financially (the highest for this indicator since December 2014).

Of respondents, 61% (up 5ppts) of Vietnamese expect their families to be ‘better off’ financially this time next year (the highest ever recorded for this indicator) compared to only 5% (unchanged) who expect to be ‘worse off’ financially.

In addition, 58% (up 5ppts) of Vietnamese expect Vietnam to have ‘good times’ financially during the next 12 months and just 10% (down 2ppts) expect ‘bad times’ financially.

In the longer-term, 66% (up 5ppts) of Vietnamese expect Vietnam to have ‘good times’ economically over the next five years compared to just 4% (down 1ppt) who expect ‘bad times’ economically (an equal record low for this indicator).

Finally, 47% (unchanged) of Vietnamese said ‘now is a good time to buy’ major household items compared to 12% (unchanged) who said ‘now is a bad time to buy’ major household items.