Vietnam: Industrial production accelerates in May
May 24, 2013
In May, industrial output grew 6.7% over the same month last year, which was above the 5.8% rise observed in April. The acceleration was driven by stronger growth in mining and quarrying, whereas the remaining sectors slowed down compared to April.
A month-on-month comparison corroborates the acceleration suggested by the annual data, as industrial production rose 4.60% over the previous month, which was above the 1.69% rise increase recorded in April. Despite the annual acceleration, the trend remains flat, with annual average growth in industrial production steady at April's 6.3%.
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%.