October consumer confidence improves as optimism jumps

The ANZ-Roy Morgan Viet Nam Consumer Confidence Index gained 5.8 points to 141.1 in October — Photo kinhtedothi

ANZ Bank said in a report last week that the index is also 6.4 points higher than it was a year ago, and the latest improvement stems from increased optimism about personal finances as well as future economic conditions in Viet Nam.

"Consumer sentiment rose both strongly and broadly in October in a sign that the Vietnamese economy continues to uniquely weather the global trade slowdown," Glenn Maguire, the chief economist of ANZ Bank in South Asia, ASEAN and the Pacific, said.

"The strong ongoing performance of the external sector is having positive spill-over effects into the broader economy, particularly for domestic-facing sectors. Thus, it is important that domestic demand in Viet Nam emerges as a further stabiliser to growth. Our consumer confidence index clearly confirms that this is happening," he said./.

Source: VNS

 

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