Vietnamese consumers ‘extremely optimistic’ about economy: survey

Confidence among Vietnamese consumers has fallen slightly since last year, but that has not stopped them  from being among the most optimistic in the region, a new survey has found.

The Mastercard Consumer Confidence Index released last week ranked Vietnam second in Asia Pacific after Cambodia.

The survey asked 9,153 adults from 18 Asia Pacific markets to provide a six-month outlook on five economic factors - the economy, employment outlook, regular income outlook, market stock market and quality of life.

Score 90 of Vietnam.8, compared with the regional average of 66.9, is 1.The survey showed a drop of 5 points from the previous survey, but was still in "extremely optimistic" territory.

Its consumers are most active in terms of the general economy and regular income, although there is a slight decline in their outlook for quality of life.

The index is calculated on a scale of 0 to 100, putting 11 markets in the "optimistic” territory.Consumers in Taiwan and Sri Lanka fall into the "pessimistic" category, scoring below 40, while their peers in major economies such as Australia, Hong Kong, Singapore and Japan fall into the "negative" category. 'neutral'.

South Korea recorded the biggest improvement in the rankings with optimism at its highest level since 1995.

Expectations were high on its economic performance and the presidential election in May produced a "leap" that took sentiment from pessimistic to very optimistic in six months, USA.NNS.payment technology company said in a press release.

The Mastercard survey began in 1993 and is conducted twice a year.

In February, a Nielsen survey of online consumers in 63 economies found Vietnam to be the fifth most optimistic country in the world, after India, the Philippines, and the United States.NNS.and Indonesia.

Nguyen Huong Quynh, CEO of Nielson in Vietnam, said in a statement Vietnam's growing middle class population with rising disposable income and the country's stable economic outlook remains dynamic. main force for ratings.

The country's economic prospects have also made their appeal to expats.A survey by HSBC last month found that half of expats working and living in Vietnam agree that the country is a good place to develop their careers and two-thirds feel confident. believe in the economy.

Vietnam's economy has been one of the best performing in the region in recent years, mainly driven by exports in the FDI sector.Expansion of 7.46% in the third quarter, the strongest third quarter growth since 2010, bolstered hopes of hitting the country's ambitious six-year growth target.7% this year.