Vietnam Industry


Industry jumps in February on Lunar New Year effect

In February, industrial output rose 15.2% over the same month of last year, which was an improvement over the 3.0% increase recorded in January. February's expansion marked the fastest growth rate in more than a year. The improvement was broad-based, with manufacturing and mining and quarrying recording the biggest improvements over the previous month. That said, the reading benefited from a favourable base effect due to the Lunar New Year, which was celebrated in February last year.

Industrial production contracted 10.30% over the previous month in February, which followed the 6.20% fall recorded in January. Annual average growth in industrial production rose from 4.4% in January to 6.5% in February.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 6.0% in 2014, which is down 0.5 percentage points from last month's forecast. For 2015, panelists expect that industrial production will expand 6.8%.

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Vietnam Industry Chart

Vietnam Industry February 2014

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

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