Vietnam: Industrial production growth slows again in September
Vietnam’s industrial sector grew robustly in September, but the rate of expansion moderated notably. Industrial output expanded at a slower annual pace of 9.1% compared to 13.4% in August.
Looking at a breakdown of the data, the downturn in the industrial sector was due to a contraction in mining and quarrying output, led by a notable drop in the extraction of crude oil. The manufacturing sector, on the other hand, continued expanding at a double-digit pace. While the electricity and gas supply sector, and the water supply, sewerage, waste management and remediation activities sector also expanded, they did so at a weaker pace.
In month-on-month terms, industrial production slowed markedly, growing a meagre 0.8% in September, following a 7.3% expansion in August. Annual average growth in industrial output fell to 12.5% in September, down from 12.8% in August.