Economic Indicators Mixed In November

Economic Research	6 December 2016
Vietnam
Economic Update
Economic Indicators Mixed In November We envisage the country’s real GDP to grow by 5.9% in 2017, sustaining from an estimated +6.0% in 2016, and compared to +6.7% in 2015, on:                 i.    Resilient exports due to participation in FTAs.                ii.    Strong inflows of FDI               iii.    Robust private investment Industrial production (IPI) growth eased in November. This was mainly due to slowing manufacturing production and declines in the output of electricity and mining & quarrying activities. Export growth gained pace during the month. The pick-up was on account of quicker growth in exports from the foreign direct investment and domestic sectors. By commodity, the acceleration was attributed to a pick-up in the growth of manufacturing and agriculture shipments. Retail sales grew at a quicker pace in the January-November period. The stronger growth was buoyed by the tourism and restaurant & hotel sectors. Headline inflation rate picked up in November. Headline inflation accelerated on account of higher food costs and a smaller margin of decline in transportation costs. Economist:  Vincent Loo Yeong Hong  | +603 9280 2172 Economist: Aris Nazman Maslan | +603 9280 2184