Vietnam Industry September 2016


Growth in industrial production picks up steam in September

In September, industrial output rose 7.6% over the same month last year, which was above the 7.3% rise recorded in August. The 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 a healthy 3.4% over the previous month (August: 0.8% month-on-month), which was the strongest expansion seen in six months. Annual average industrial production, in turn, deteriorated from 7.9% in August to a 21-month low of 7.6% in September.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.4% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, panelists expect industrial production to expand 8.6%.

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Vietnam Industry Chart

Vietnam Industry September 2016 0

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

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