Vietnam: Industrial production accelerates in July
July 29, 2013
In July, industrial output expanded 7.0% over the same month last year, which came above the 6.5% increase observed in June. The acceleration was driven by stronger growth in mining and quarrying as well as in energy supply, which offset a deceleration in the manufacturing sector.
A month-on-month comparison corroborates the acceleration suggested by the annual data, as industrial production added 3.4% over the previous month, which was well above the 1.9% increase recorded in June. As a result of the upsurge in July, annual average growth in industrial production inched up to 6.3% (June: 6.2%).
FocusEconomics Consensus Forecast participants estimate that industrial output will grow 5.6% this year, which is unchanged from last month's forecast. For 2014, panellists expect industrial production to expand 6.9%.