Vietnam: Industrial production accelerates in April
April 26, 2013
In April, industrial output grew 5.8% over the same month last year, which was above the 5.6% rise observed in March. The acceleration was driven by stronger growth in manufacturing as well as in electricity, gas and water. A month-on-month comparison, however, does not corroborate the acceleration suggested by the annual data, as industrial production rose 1.69% over the previous month, which was well below the massive 31.90% rise increase recorded in March. That said, the previous month reading was heavily distorted by seasonal factors related to the Lunar New Year holiday. Despite the annual acceleration, the trend is pointing downwards, with annual average growth in industrial production falling from 6.5% in March to 6.3% in April. FocusEconomics Consensus Forecast participants estimate industrial output to grow 7.6% this year, which is unchanged from last month's forecast. For 2014, panellists expect industrial production to expand 8.7%.