article banner
Grant Thornton International Business Report

The increased confidence of the US mid-market and its impact on Vietnam

According to Grant Thornton's latest International Business Report (IBR), a leading global survey of mid-market enterprises, business sentiment among mid-market firms globally has improved since the previous survey in the same period of second half of 2022. Particularly, in the US market, confidence has increased significantly, with 70% of mid-market firms expecting profits to increase in the next year, up 6% compared to the second half of 2022.

The resurgence of the US economy and the positive outlook of American mid-market firms offer hopeful signs for global recovery. With the US being Vietnam’s second largest trading partners, the rising business optimism among American mid-market firms is undoubtedly helping stimulate growth in Vietnam through increasing business, trading, and investment activities.

In Vietnam, expectations for profitability are highly positive as 82% of mid-market businesses in the country expect better profitability in the next 12 months. Similarly, 83% of businesses forecasted increasing revenue and 53% anticipated higher selling prices, a rise of 1% and 15% respectively. In terms of employment, 71% believed there would be positive changes in the next 12 months, an increase of 6% compared to the previous survey. Those figures indicate that firms are becoming more optimistic about global recovery with better consumer demand and economic stimulus policies taking effect.

To discover more about the expectations of mid-market businesses globally, access the story at: