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Consumer confidence improves

Update: August, 02/2012 - 10:29


Customers shop at Ha Noi Textile Company (HANOSIMEX) store in Ha Noi. Viet Nam recorded a slight increase in its consumer confidence index. — VNA/VNS Photo The Duyet
HCM CITY — While most Asian countries saw the consumer confidence index fall in the second quarter, Viet Nam recorded a slight pickup, according to the latest quarterly Consumer Confidence Index findings from Nielsen.

While the second-quarter 2012 Consumer Confidence Index recorded a score of 100 for Asia, a fall of three points from the first quarter, Viet Nam saw the index rise one point to 95.

Confidence levels declined in many markets across Asia, with just five markets (Indonesia, Malaysia, Hong Kong, Viet Nam and South Korea) recording an increase in confidence levels for the quarter.

According to Nielsen's survey, 46 per cent of Vietnamese respondents say their career prospects over the next 12 months were good or excellent, decreasing 7 per cent quarter-on-quarter and 11 per cent year-on-year.

Fifty-eight per cent of Asian consumers said their local job prospects in the next 12 months were good or excellent, a decrease of three per cent from the previous quarter.

More than half (59 per cent) of online consumers in Asia considered their personal finances over the next 12 months to be good or excellent, down four percentage points from the first quarter but a rise of two percentage points from the second quarter in 2011.

Around 51 per cent of Vietnamese respondents reported that their state of personal finance would be good or excellent over the next 12 months, slightly increasing from 49 per cent in the first quarter but still lower than a year ago (56 per cent).

With Vietnamese consumers, a plan to put spare cash into savings is the top option when 66 per cent of consumers choose to save money.

Out-of-home entertainment (28 per cent) and home improvement (27 per cent) became less attractive to consumers compared to the first quarter.

Top five concerns of Vietnamese consumers in the second quarter were economic uncertainty, job security, rising costs of utility bills, higher food prices and health.

The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, tracks consumer confidence, major concerns and spending intentions among more than 28,000 Internet consumers in 56 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism. — VNS

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