Con­sumer con­fi­dence up in July

Viet Nam News - - Business -

HAØ NOÄI — The ANZ- Roy Mor­gan Vieät Nam Con­sumer Con­fi­dence In­dex posted another strong gain, in­creas­ing by 3.1 points to reach 134.1 in July, to stand well above the 2014 av­er­age of 131.

ANZ Bank econ­o­mists an­nounced this in a re­port dated July 30, adding that eas­ing of po­lit­i­cal ten­sions ap­pear to have con­trib­uted to the in­crease in con­fi­dence dur­ing the month.

In terms of per­sonal fi­nances, 34 per cent ( up 2 per cent) of the Viet­namese peo­ple say that their fam­i­lies are “ bet­ter off ” than a year ago, while 19 per cent ( down 1 per cent) say that their fam­i­lies are “ worse off ” .

About 55 per cent ( up 7 per cent) ex­pect their fam­i­lies to be “ bet­ter off ” fi­nan­cially this time next year, com­pared to 6 per cent ( down 2 per cent) who ex­pect their fam­i­lies to be “ worse off ” .

As much as 61 per cent (up 4 per cent) of the Viet­namese peo­ple ex­pect Vieät Nam to have “good times” eco­nom­i­cally over the next five years, com­pared to 7 per cent (down 4 per cent) who ex­pect “ bad times ” .

How­ever, 47 per cent (down 2 per cent) ex­pect the coun­try will have “ good times ” fi­nan­cially dur­ing the next twelve months, while 15 per cent (down 1 per cent) ex­pect “ bad times ” .

Thirty- seven per cent ( down 1 per cent) of the Viet­namese peo­ple say now is a “ good time to buy ” ma­jor house­hold items, com­pared to 17 per cent ( up 3 per cent) who say it is a “ bad time to buy ” .

“ We be­lieve the eco­nomic back­drop will be one of sure­and-steady re­cov­ery, rather than a V- shaped re­bound, ” said Glenn Maguire, the chief econ­o­mist of ANZ in Asia- Pa­cific.

Con­sumer con­fi­dence sit­ting above the 2014 av­er­age is aligned with Vieät Nam ’ s on­go­ing eco­nomic mo­men­tum. How­ever, fur­ther strong gains in con­fi­dence will need to be pro­pelled ei­ther via wealth ef­fects from higher eq­uity and gold prices, or a faster im­prove­ment in the econ­omy.

“ We would now as­sess con- fi­dence as be­ing more likely to move side­ways at el­e­vated lev­els rather than con­tinue to make strong gains, ” said Glenn.

The ANZ Bank and Roy Mor­gan Re­search launched the monthly pri­vate con­sumer in­dex for Vieät Nam ear­lier this month, with sur­veys cov­er­ing ma­jor cities and prov­inces across the na­tion.

The con­sumer in­dex jumped 7.7 points in June. —

Con­sumers shop at Lotte Mart. The ANZ-Roy Mor­gan Vieät Nam Con­sumer Con­fi­dence In­dex posted another strong gain. — VNS Photo Tröông Vò

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