Vietnam Industry March 2016

Vietnam

Vietnam: Industrial output expands at a softer pace in March

March 28, 2016

In March, industrial output rose 6.2% over the same month last year, which marked a deceleration over the 7.9% rise recorded in February. The deceleration came on the back of softer expansions in three of the four components of the index as well as a drop in mining and quarrying.

Industrial production in March rose a notable 23.8% over the previous month, which contrasted with the 22.3% contraction tallied in February. March’s print marked the largest reading in one year. Meanwhile, annual average growth in industrial production dropped from 9.1% in February to 8.8% in March.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 9.7% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, panelists expect that industrial production will expand 9.4%.


Author: Jean-Philippe Pourcelot, Economist

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Vietnam Industry March 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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