Vietnamese consumers optimistic about economic outlook

Vietnam's Consumer Confidence Index (CCI) jumped three points to 102, the highest level since late 2010, according to the assessment of Q3, 2014 by Nielsen Global Survey of Consumer Confidence and Spending Intentions.
State-run radio Voice of Vietnam reported Monday quoting Country Manager of Nielsen Vietnam Vaughan Ryan as saying that the climb of consumer index in Q3 has shown that consumers have shared a positive outlook for the future in spite of difficulties over the past 18 months.
Consumers are willing to spend their spare cash on vacations, new clothes, latest technological products and household utensils, which is a positive sign for the economy in the remaining months of the year.
However, in general Vietnamese consumers still have a cautious approach when it comes to spending. As many as seven out of 10 consumers in Vietnam spend their spare cash on savings after meeting all essential living costs, according to the survey.
The Consumer Confidence Index is made on a 100-point scale.
In the first three quarters of this year, Vietnam's Gross Domestic Products (GDP) growth rose by 5.62 percent year on year, of which the figure reached 5.09 percent in Q1, 5.42 percent in Q2 and 6.19 percent in Q3.
Meanwhile, the country's consumer price index (CPI), a calculator for the inflation rate, in September increased by 0.4 percent month-on-month and by 3.62 percent year-on-year, its lowest increase in six years, according to the General Statistics Office.