In March, industrial production in Vietnam rose 5.5% over the same month last year, which was down from the 15.2% rise in February.
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February’s extraordinary jump had been due to the Lunar New Year holidays, which this year fell in January compared to February in 2016. Looking at the sub-components of industrial production, mining and quarrying output still contracted, though at a softer pace than in February.
The expansions in manufacturing and electricity, gas and water supply lost steam in March.
In month-on-month terms, industrial production increased 12.5% in March, the best result in a year (February: -2.1% month-on-month).
Meanwhile, the annual average growth of industrial production was broadly stable, coming in at 7.4% in March, a notch below February’s 7.5%.
FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.0% in 2017, which is up 0.2 percentage points from last month’s forecast. For 2018, panelists expect industrial production to expand 8.3%.
In March, industrial production rose 5.5% over the same month last year, which was down from the 15.2% rise in February.
February’s extraordinary jump had been due to the Lunar New Year holidays, which this year fell in January compared to February in 2016.
Looking at the sub-components of industrial production, mining and quarrying output still contracted, though at a softer pace than in February, while the expansions in manufacturing and electricity, gas and water supply lost steam in March.
In month-on-month terms, industrial production increased 12.5% in March, the best result in a year (February: -2.1% month-on-month).
Meanwhile, the annual average growth of industrial production was broadly stable, coming in at 7.4% in March, a notch below February’s 7.5%.
FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.0% in 2017, which is up 0.2 percentage points from last month’s forecast. For 2018, panelists expect industrial production to expand 8.3%. ■