Vietnam: Industry slows down in March
April 1, 2014
In March, industrial output rose 4.7% over the same month of last year, which was well below the 15.2% increase observed in February. February's reading had benefited from a favourable base effect due to the Lunar New Year, which had been celebrated in February last year. March's deceleration came mainly as a result of a slower expansion manufacturing and electricity.
Industrial production rose 16.9% over the previous month in March, which significantly contrasted the 10.3% contraction recorded in February. That said, the reading was distorted by seasonal factors related to the 2014 Lunar New Year holiday. Annual average growth in industrial production was stable at February's 6.5% in March.
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