Vietnam: Industrial production decelerates slightly in June
June 28, 2013
In June, industrial output expanded 6.5% over the same month last year, which came slightly below the 6.7% increase observed in May. The deceleration was driven by softer growth in mining and quarrying as well as in energy supply, which offset an acceleration in the manufacturing sector.
A month-on-month comparison corroborates the deceleration suggested by the annual data, as industrial production added 1.9% over the previous month, which was below the 4.6% increase recorded in May. As a result of the slower growth in June, the trend continues to point downwards, with annual average growth in industrial production inching down from 6.3% in May to 6.2%.
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%.