Vietnam: Industrial production jumps in January on Lunar New Year effect
January 28, 2013
In January, industrial output grew 21.1% over the same month last year, which was up from the 5.9% increase observed in December. The acceleration was broad-based, with all the main sectors improving compared to the previous month. That said, the reading benefited from a favourable base effect due to the Lunar New Year, which was celebrated at the end of January last year.
Nonetheless, a month-on-month comparison does not corroborate the acceleration suggested by the annual data, as industrial production fell 3.2% over the previous month, which contrasted the 5.0% increase recorded in December.