Vietnam Industry December 2016

Vietnam

Vietnam: Industrial production accelerates to one-year high in December

December 28, 2016

In December, industrial production rose 8.3% over the same month last year, which was above the 7.4% rise recorded in November and the best result since December 2015. Double-digit growth in manufacturing production and electricity, gas and water output offset a contraction in mining and quarrying, which dropped at a more moderate pace than that seen in November.

In seasonally-adjusted terms, industrial production increased 4.7% from the previous month in December (November: +2.0% month-on-month), a 9-month record. Nonetheless, annual average industrial production deteriorated from 7.4% in November to an over two-year low of 7.3% in December.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.1% in 2017, which is up 0.4 percentage points from last month’s forecast. For 2018, panelists expect industrial production to expand 9.0%.


Author: Marlène Rump, Senior Data Analyst

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Vietnam Industry December 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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