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Consumer confidence marks two-year high: market survey

Update: February, 24/2014 - 08:24
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HA NOI (VNS)— Viet Nam's Consumer Confidence Index (CCI) in the fourth quarter touched a two-year high, fueled by the optimism in the job market, Nielsen reported.

According to Nielsen, a global provider of market research, insights and data, the CCI in Q4 2013 was 98 points, one percentage point higher than Q3 and 10 percentage points higher than Q4 2012.

In a poll examining the ratios of savings, 74 per cent of the Vietnamese consumers said they were saving for the future and re-prioritising their discretionary spending to save on household expenses. This is the highest rate in the region, followed by the Philippines at 68 per cent.

According to HSBC Holdings Plc's Emerging Markets Index released earlier this month, Viet Nam is among the most optimistic countries in terms of business expectations.

The Asia-Pacific region was the only one to post an increase for the quarter, as consumer confidence surged one index point to touch 105. The indexes were down or flat in the other regions.

All the confidence indicators posted marginal gains in the Asia-Pacific region in the fourth quarter, with a two-percentage point rise for job prospects (62 per cent), a one-percentage point increase for personal finances (62 per cent) and a three-percentage point up for spending perceptions over the next 12 months (43 per cent).

Consumer confidence increased in six of 14 countries, with a quarterly climb of six percentage points in Japan to reach 80, its highest index since 2005. China went up one index point in the fourth quarter to reach a score of 111.

India also reversed its downward confidence trend of the last three quarters by increasing three index points to reach 115 in Q4 2013. The percentage of Indians who said they were in a recession declined 14 percentage points to 62 per cent from 76 per cent in Q3 2013. — VNS

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