Vietnam Industry February 2017

Vietnam

Vietnam: Industrial production jumps in February

February 28, 2017

In February, industrial production rose 15.2% over the same month last year, which was well above the 0.7% rise in January and the highest figure in over two-years. An over 20% surge in manufacturing and robust growth in electricity, water and gas production was behind the strong performance. That said, February’s jump partially reflected a positive impact from the Lunar New Year holidays, which fell in January this year compared to February in 2016.

In month-on-month terms, industrial production decreased 2.1% in February (January: -6.2% month-on-month). The strength seen in the annual growth in February was reflected in the annual average growth of industrial production, which climbed from 6.9% in January to 7.5% in February, a four-month high.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 7.8% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect industrial production to expand 8.2%.


Author: Marlène Rump, Senior Data Analyst

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Vietnam Industry February 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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