Vietnam Industry March 2017

Vietnam

Vietnam: Industrial production slows in March

March 29, 2017

In March, Vietnamese industrial production rose 5.5% over the same month last year, which was down from the 15.2% rise in February. February’s extraordinary jump had been due to the Lunar New Year holidays, which this year fell in January compared to February in 2016. Looking at the sub-components of industrial production, mining and quarrying output still contracted, though at a softer pace than in February, while the expansions in manufacturing and electricity, gas and water supply lost steam in March.

In month-on-month terms, industrial production increased 12.5% in March, the best result in a year (February: -2.1% month-on-month). Meanwhile, the annual average growth of industrial production was broadly stable, coming in at 7.4% in March, a notch below February’s 7.5%.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.0% in 2017, which is up 0.2 percentage points from last month’s forecast. For 2018, panelists expect industrial production to expand 8.3%.


Author: Marlène Rump, Senior Data Analyst

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Vietnam Industry March 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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