Vietnam: Industry improves to highest growth rate in five months
December 29, 2013
In December 2013, industrial output rose 7.0% over the same month of the previous year, which was an improvement over the 5.7% increase recorded in November. December's figure marked the highest growth rate since July 2013. The improvement was broad-based, with the mining and quarrying, as well as the water, supply and waste management industries recording the biggest improvements over the previous month.
Industrial production expanded 4.40% over the previous month, which was above the 2.60% increase tallied in November. Annual average growth in industrial production inched up from 5.8% in November to 5.9% in December.
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