Vietnam: Industry gains momentum in April
April 29, 2014
In April, industrial output rose 6.0% over the same month last year, which was above the 4.7% increase observed in March. April's acceleration mainly resulted from a rebound in mining and quarrying and a faster expansion in manufacturing and electricity.
Industrial production rose 1.20% over the previous month in April, which was well below the 16.90% increase observed in March. That said, March's reading was distorted by seasonal factors related to the 2014 Lunar New Year holiday. Annual average growth in industrial production was stable at March's 6.5% in April.
FocusEconomics Consensus Forecast participants estimate that industrial output will grow 6.0% in 2014, which is down 0.5 percentage points from last month's forecast. For 2015, panelists expect that industrial production will expand 6.8%.
Author: Dirina Mançellari, Senior Economist