Vietnam: Industry deteriorates to lowest growth rate in nearly a year
February 5, 2014
In January, industrial output rose 3.0% over the same month of last year, which was a deterioration over the 7.0% increase recorded in December. January's figure marked the lowest growth rate in nearly a year. The deterioration was broad-based, with the mining and quarrying, as well as the electricity, gas and water industries marking the biggest deteriorations over the previous month.
Industrial production contracted 6.20% over the previous month in January, which contrasted the 4.40% increase recorded in December. Annual average growth in industrial production edged down from 5.9% in December to 4.4% in January.
FocusEconomics Consensus Forecast participants estimate that industrial output will grow 6.0% in 2014, which is down 0.5 percentage points from last month's forecast. For 2015, panelists expect that industrial production will expand 6.8%.
Author: Dirina Mançellari, Senior Economist