Vietnam: Industrial production decelerates in October
October 28, 2012
In October, industrial output expanded 5.7% over the same month last year, which was almost half the 9.7% increase observed in September. The moderation was driven by a contraction in mining and quarrying (October: -1.2% year-on-year; September: +8.9% yoy) and slower growth in manufacturing (October: +6.9% yoy; September: +9.6% yoy). In contrast, electricity, gas and water as well as water supply and waste management accelerated compared to the previous month. A month-on-month comparison, however, does not corroborate the deceleration suggested by the annual data, as industrial production expanded a seasonally adjusted 5.8% over the previous month, which was above the 4.6% increase recorded in September.
Author: Armando Ciccarelli, Head of Data Solutions