Vietnam: Industrial production plunges in January
January 31, 2012
In January, industrial production dropped 12.9% over the same month last year, which contrasted the 7.5% increase recorded in December. According to the General Statistics Office of Vietnam (GSO), the negative print was largely affected by the Chinese New Year holiday. A month-on-month comparison corroborates the deterioration suggested by the annual data, as industrial production contracted a seasonally adjusted 2.4% over the previous month, contrasting the 4.8% expansion recorded in December.
Author: Armando Ciccarelli, Head of Data Solutions