Vietnam consumer confidence plummets on COVID worries, survey says

Only 5% of respondents expect a better economy despite victory against the virus

Vietnam is suffering from poor consumer sentiment, with many locals reluctant to go shopping due to concerns about the pandemic's economic impact. © Reuters

LIEN HOANG, Nikkei staff writer

October 2, 2020 17:26 JST

HO CHI MINH CITY -- Vietnam's consumer confidence has plunged to a level not seen in at least 20 years, offering a bleak snapshot of the pandemic's persistent impact, even in a country that has quashed COVID-19 and has a growing economy.

In a poll from July that was released today, 5% of respondents said they expect the economy to be better this year than last.