Vietnamese consumers prefer shopping at supermarkets. (Photo: giaoduc.net.vn)
Glenn Maguire, ANZ
chief economist South Asia, ASEAN & Pacific, said in a monthly report that the immunity and resilience of the Vietnamese economy has been highlighted by the PMI returning above the neutral threshold of 50 in October and firm macroeconomic data.
According to the report, the ANZ-Roy Morgan Vietnam Consumer Confidence index was up 1.2 points to 142.3 points in November, marking the third month of increase in a row. The improvement was driven by higher confidence about personal financial situations compared to a year ago and improved sentiment about buying major household items.
“Indeed, the improvement in both perceptions about personal finances over the next year and the increased readiness among households to purchase big-ticket household items suggest that domestic income conditions within the Vietnamese economy are improving, instead of deteriorating,” said the economist.
He noted that medium-term confidence in the Vietnamese economy should also rise as the full details of the Trans Pacific Partnership (TPP
) continue to be revealed and the unambiguously strong positive medium term benefits the TPP is expected to bring to Vietnam become more evident.