Vietnam Consumer Confidence has fallen slightly to 134.7 points (down 0.3% m/m) in October, according to latest report by ANZ-Roy Morgan.

This month’s slight fall was primarily driven by falling confidence amongst respondents about the next 12 months, however an increasing number of respondents said now is a ‘good time to buy’ major household items.

In terms of personal finances, 53% (down 5% m/m) of Vietnamese expect their family will be ‘better off’ financially this time next year compared to just 7% (up 2%) who expect to be ‘worse off’ financially.

Of the respondents, 33% (up 2%) of Vietnamese said their families are ‘better off’ financially than a year ago compared to 23% (up 2%) who said their families are ‘worse off’ financially.

Considering the Vietnamese economy, 51% (down 3%) of Vietnamese expect Vietnam will have ‘good times’ financially during the next twelve months and just 15% (up 1%) expect ‘bad times’ financially.

In addition, 61% (up 1%) expect Vietnam will have ‘good times’ economically over the next five years compared to just 7% (unchanged) who expect ‘bad times’ economically.

About 42% (up 2%) of the respondents said now is a ‘good time to buy’ major household items (the highest for this indicator since January 2014) compared to only 14% (down 7%) who said now is a ‘bad time to buy’ major household items.

Glenn Maguire, ANZ Chief Economist, South Asia, ASEAN & Pacific said “Within the consumer confidence survey, we find the conflicting influences of asset price deflation and softer consumer goods inflation affecting relative perceptions of financial wealth, particularly the propensity to consume most apparent this month.”

“Wealth effects from the equity market are a key determinant of consumer confidence in Vietnam and the weakness in the local bourse over the month has clearly weighed on consumer confidence,” he added.