Consumer confidence Index predicts spending/saving patterns through consumers’ expectations of current state of economy as the indicator.
INTAGE’s Vietnam Confidence Index is conducted on a monthly basis to measure Vietnamese people’s perceptions on current personal economic situation as well as individual anticipation on future outcome of the current condition. 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.
October 2020 recorded not much significant changes to the figures used to quantify Vietnamese’ attitude living in cosmopolises towards current economic situation. Though there was a minor variation in the expected household SEC compared to last month, the decrease was not as distinguished; all while other indexes experienced a slight increase.
After a prolonged period of slowdown, economy is showing signs of a sluggish recovery. If these signs continue to persist, consumers and businesses spending are likely to improve, further boosting the revitalization process.