Macro Update - Consumption rallied ahead of LNY on lower energy cost and rising sentiment
  • 2015-02-02T00:00:00
  • Macroeconomics
Domestic demand on a firm recovery trend as real retail sales growth reached a 7-year high with double-digit growth and consumer confidence was showing sequential gains with more spending allocated to automobiles and apartments. Meanwhile, inflation extended its falling streak to a 3rd consecutive month and falling fuel prices remains the major reason. Of note, the Dong was devalued by 1% in a move mostly to spur exports as FX reserve are still at a 'safe level'.