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Vietnam Industrial production January 2023

Vietnam: Industrial output drops at sharpest rate since April 2020 in January

Industrial output nosedived 11.2% compared to the same month of the previous year in January, which contrasted December’s 1.6% increase. ‘The result marked the worst reading since April 2020 and was likely due to lost output amid Lunar New Year celebrations, which took place in January this year, instead of early February like last year. January’s reading was driven by a sharp deteriorations in manufacturing and energy production, which contracted at the steepest rates since April 2020 and December 2021, respectively.

Meanwhile, annual average industrial production growth fell to 14.1% in January (December: +15.5%), signaling a worsening trend in the industrial sector.

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