Vietnam: Industrial output growth slows to near one-year low in January
Latest reading: Industrial output growth fell to 0.6% year on year in January (December: +8.8% yoy), marking the weakest reading since February 2024. Looking at the details of the release, the deceleration reflected a deterioration in manufacturing output growth and in electricity production. Moreover, mining output contracted at a faster rate, marking the twelfth consecutive month of contraction. That said, the reading was affected by a calendar effect: The Lunar New Year fell in January this year and in February during 2024.
Accordingly, the trend pointed down, with annual average industrial production growth falling to 6.7% in January (December: +8.2%).