Vietnam Industry February 2019

Vietnam

Vietnam: Industrial production growth gains traction in February

February 28, 2019

Industrial production jumped 10.1% over the same month last year in February, accelerating from the revised 8.1% increase logged in January (previously reported: +7.9% year-on-year).

February’s pick-up came on the back of stronger manufacturing production and increased electricity and gas supply. On the other hand, mining and quarrying output contracted for the third consecutive month, while water supply, sewerage, waste management and remediation activities moderated in the month.

In month-on-month terms, industrial production fell a sharp 16.8% in February, down from the 3.2% drop registered in January. Meanwhile, annual average growth in industrial output ticked up to 10.1% in February from 9.9% in January.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.9% in 2019, which is down 0.3 percentage points from last month’s forecast. For 2020, panelists expect industrial production to expand 7.8%.


Author:, Economist

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Vietnam Industry February 2019 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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