Vietnam Tops Consumer Confidence in Asia

Vietnam recorded 89.6 points in consumer confidence index, the highest among 13 key Asian markets following a recent survey conducted by credit card company MasterCard.

 

The index of consumer confidence analyzes prevailing consumer perceptions of economic conditions across 13 markets for the six-month period ahead. The scores ranging between 0 and 100 are based on responses to questions on five variables: employment, economy, regular income, stock market and quality of life.

 

Under the survey, which took opinions of 5,400 consumers in 13 countries and territories in Asia, Hong Kong ranked with 88.5 points and China followed with 78.2 points.

 

Thailand’s consumer confidence saw the lowest index with 28.6 points due to the prolonged political turmoil in the country. This is also the lowest index since its financial crisis in 1997.

 

Beside Thailand, consumer confidence of South Korea and Taiwan ranked among the lowest, standing at 28.1 points and 29.1 points respectively.

 

The inland political uncertainties in the Middle East have lowered the Asian consumer confidence overall, adding to concerns over hiking crude oil rates.

 

MasterCard carries out the survey twice annually since 1993 in selected major markets in Asia.

 

Since its first MasterIndex of 4th quarter of 2003, Vietnamese consumers continue to be highly optimistic on all five economic factors that make up the MasterIndex.

Thanhniennews, Vietnam and World Economy