Vietnam: Industrial production contracts in February
February 28, 2013
In February, industrial output dropped 10.1% over the same month last year, which contrasted the 21.1% increase observed in January. The decline was mainly driven by a contraction in mining and quarrying as well as in manufacturing. However, the reading was distorted by seasonal factors related to the Lunar New Year holiday.
A month-on-month comparison corroborates the deceleration suggested by the annual data, as industrial production fell 21.3% over the previous month, following the 3.2% decrease recorded in January.
FocusEconomics Consensus Forecast participants estimate industrial output will growth 7.4% in 2013 which is down 0.2 percentage points over last month's projection. For 2014, panellists forecast industrial production to expand 8.4%.