Vietnam Industry August 2016


Growth in industrial production broadly stable in August

In August, industrial output rose 7.3% over the same month last year, which was just a notch above the 7.2% rise recorded in July. The mild acceleration came on the back of a larger increase in manufacturing output, which more than offset a sharp contraction in the mining and quarrying sector.

In seasonally-adjusted terms, industrial production increased 0.8% over the previous month (July: 2.1% month-on-month). The sluggish trend is confirmed by annual average growth data: industrial production edged down from 8.1% in July to a 20-month low of 7.9% in August.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.6% in 2016, which is unchanged from last month’s forecast. For 2017, panelists also expect industrial production to expand 8.6%.

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Vietnam Industry Chart

Vietnam Industry August 2016 1

Note: Year-on-year variation of industrial production index in %.
Source: General Statistics Office of Vietnam (GSO) and FocusEconomics calculations.

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