Vietnam’s Consumer Confidence Index hits record high

Friday, 2018-12-21 13:57:52
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Vietnam had the world’s second highest score in the consumer confidence index in the third quarter of 2018. (Photo for illustration)
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NDO/VNA – Vietnam had the world’s second highest score in the consumer confidence index in the third quarter of 2018, according to the latest data of the Conference Board Global Consumer Confidence Survey and Nielsen.

The country’s index, at 129 points, showed a 9-point increase over the previous quarter thanks to the growth in confidence in employment prospects and personal finances, and is also the highest in a decade.

Vietnam, together with Malaysia with 127 points, surpassed Indonesia and the Philippines to become among the top three most confident countries globally. At the same time, Malaysia and Thailand are the two countries with the highest growth rate, up 10 percentage points and this is also the dominant growth in the world.

Meanwhile, Indonesia and the Philippines experienced a slight reduction, with 126 points (-1 point), and Singapore retain a growth, reaching 98 points (up 4 points from Q2 2018).

The report showed that the Consumer Confidence Index (CCI) in the Asia Pacific region remained high, rising 2 points from 112 points in the second quarter to 114 in the third quarter 2018.

Vietnam’s CCI in the third quarter was higher than the same period in 2017 (116 points as compared to 129 points).

Vietnamese consumers continue to be optimistic about their personal finances, with 82% saying their personal finances are good or excellent over the next 12 months (up 6% as compared to second quarter of 2018). And at the same time, they are ready to spend with 63% of consumers certainly saying that the next 12 months is a good time for them to buy things they want (up 8% from the previous quarter).