Industrial Production Gains Pace in September, While External Activities Slow

Economic Research	29 September 2016
Vietnam
Economic Highlights
Industrial Production Gains Pace in September, While External Activities Slow Vietnam’s  industrial production (IPI) growth  picked up to 7.6% y-o-y in September, after growing 7.3% in August and compared to +7.2% in July, mainly due to a pick-up in manufacturing output growth. On the external front,  export growth, on the other hand, eased to 8.6% y-o-y in September, from a revised +11.2% in August and compared with +5.1% in July, on account of slower growth in exports from the foreign direct investment and domestic sector. By commodity, the slowdown was attributed to an easing in the growth of manufacturing and agriculture shipments. Retail sales growth picked up to 9.5% y-o-y in the January-September period, from +9.3% in the period of January-August and compared to +9.4% in the January-July period, and was mainly buoyed by the pick-up of sales in the hotel & restaurant sector. On the inflation front, the headline inflation rate picked up to 3.3% y-o-y in September, from +2.6% in August an compared to +2.4% in July and June, mainly on account of higher costs of education while the costs of transport declined by a smaller margin during the month. Economist:  Vincent Loo Yeong Hong  | +603 9280 2172 Economist: Aris Nazman Maslan | +603 9280 2184
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