Consumer confidence Index predicts spending/saving patterns through glimpses of consumers’ expectations about state of economy.
Vietnam Confidence Index is conducted on a monthly basis to measure Vietnamese people perception on current personal economic situation as well as individual anticipation on future outcome of the current situation. Essentially, consumers attitude and buying intentions can be somewhat projected through their confidence level: the more confident people feel about the stability of their incomes, the more likely they are to maintain, or increase, their spending patterns.
All estimations of Vietnamese’s sentiment towards the current economic predicament have been taking a downturn in July 2020 which could signify reduced consumer spending and will affect price index negatively in the next few months.
Vietnamese continue to view their individual situation rather undesirably after the sudden economic slump in March and has not been able to recover since, despite a slight improvement in June 2020.