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%.