Vietnam’s promising economic prospects are reflected not only in the headline figures — gross domestic product is expected to grow by 6.3 per cent per cent this year, according to the Asian Development Bank — but also in how households assess their current financial wellbeing.
In the latest quarterly survey of households across Asean, Vietnam scored highest with 60 per cent of respondents saying household income had improved on a year-on-year basis. Confidence rose the most in Thai Nguyen, a steelmaking and industrial city north of Hanoi.
Yet on a month-to-month basis, the picture is rather different. Vietnam suffered a 12 percentage point drop in the number of respondents who said their household income had improved, compared with the previous (third quarter) survey.
On a city-by-city level, the northern port city of Haiphong suffered the worst decrease — 27 percentage points — in the number of respondents who reported a household income gain.
-- Ben Heubl, Data Visualisation Analyst