Vietnam: Industrial output growth dips in October
Industrial output grew 4.1% in year-on-year terms in October, which was a deterioration from September’s 5.1% increase. The weakening was due to deteriorations in manufacturing, energy and water supply growth.
Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 1.5% in October, down from September’s 1.7%.
Year to date, industrial production has risen 0.5%, far weaker than the 12% average annual expansion in the decade to 2022, due to soft global goods demand. A recovery in overseas goods demand should boost manufacturing and overall industrial production next year.