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ANZ-Roy Morgan Vietnamese Consumer Confidence rises for third straight month to 142.3

The ANZ-Roy Morgan Vietnam Consumer Confidence index edges up 1.2pts to 142.3pts in November and remains above the 2014 average of 133.3. November’s gain was driven by higher confidence about personal financial situations compared to a year ago and improved sentiment about buying major household items.
HIGHLIGHTS

The ANZ-Roy Morgan Vietnam Consumer Confidence index edges up 1.2pts to 142.3pts in November and remains above the 2014 average of 133.3. November’s gain was driven by higher confidence about personal financial situations compared to a year ago and improved sentiment about buying major household items.


  • In terms of personal finances, 34% (unchanged from last month) of Vietnamese respondents said their families are ‘better off’ financially than the same time last year. Meanwhile, a record low of 11% (down 5ppts) said their families are ‘worse off’.

  • In addition, 56% (down 1ppt) of the respondents expect their families to be ‘better off’ financially this time next year. On the other hand, 3% (down 2ppts) expect to be ‘worse off’, the lowest on record.

  • About the overall economy, 55% (down 2ppts) of the respondents expect Vietnam to have ‘good times’ financially during the next 12 months. In contrast, 9% (down 1ppt) expect ‘bad times’ financially, the lowest value recorded since March 2015.

  • Over the longer term, 59% (down 5ppts) of the respondents expect Vietnam to have ‘good times’ economically over the next five years. Meanwhile, a record low of 4% (down 1ppt) expect the country to have ‘bad times’ economically.

  • Finally, 42% (up 2ppts) of the respondents felt ‘now is a good time’ to buy major household items compared to 8% (down 3ppts) who felt ‘now is a bad time’. The latter represents the lowest value recorded for the indicator dating back to November 2014.
ANZ Chief Economist South Asia, ASEAN & Pacific, Glenn Maguire says:

“The Vietnamese economy has remained immune to a regional trade recession and the behaviour of local consumer confidence is consistent with domestic sectors that are well insulated from the slowdown in trade growth regionally and internationally.

"The immunity and resilience of the Vietnamese economy has been highlighted by the PMI returning above the threshold 50 level in October and the general tone of macro-economic data remaining firm. Indeed, the improvement in both perceptions about personal finances over the next year and the increased readiness among households to purchase big-ticket household items suggest that domestic income conditions within the Vietnamese economy are improving, instead of deteriorating.

"Nonetheless, it was a surprise that longer-term confidence in the local economic outlook fell over the month. As the full details of the Trans Pacific Partnership (TPP) continue to be revealed and the unambiguously strong positive medium term benefits the TPP is expected to bring to Vietnam become more evident, medium term confidence in the Vietnamese economy should also rise.”

ANZ-Roy Morgan Vietnamese Consumer Confidence Rating - November 2015 - 142.3

ANZ-Roy Morgan Vietnamese Consumer Confidence Rating - November 2015 - 142.3

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


Latest ANZ-Roy Morgan Consumer Confidence Releases

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

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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.