Vietnam Industry November 2017

Vietnam

Vietnam: Industrial production growth edges up in November

November 29, 2017

The industrial sector’s robust performance continued in November: Year-on-year growth of industrial output rose to an over two-year high of 17.2%, up from October’s 17.0% increase.

November’s stellar performance was led by the manufacturing sector, which recorded the fastest expansion since January 2013. Double-digit accelerations were recorded in the electricity and gas; and water supply, sewerage, waste management and remediation activities sectors. Mining and quarrying output returned to contraction, however, following a modest rise in October.

In month-on-month terms, growth in industrial production plummeted to 2.8% in November after hitting a staggering 8.0% in October. Meanwhile, average annual growth in industrial production climbed to 9.7% in November from 8.9% in October.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 7.3% in 2018, which is down 0.3 percentage points from last month’s forecast. For 2019, panelists expect industrial production to expand 6.7%.


Author:, Economist

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Vietnam Industry November 2017 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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