Industrial production gains steam in March

Latest reading: Industrial production rose 6.9% in annual terms in March, following a 1.0% rise in the prior month and surpassing market expectations. Relative to the previous month's data, readings in March improved for manufacturing (+7.5% on a year-on-year basis vs +2.3% in February), electricity (+4.6% vs -4.5% in February), mining and quarrying (+2.5% vs -5.3% in February) and water supply (+12.1% vs -5.6% in February).

Panelist insight: United Overseas Bank’s Suan Teck Kin commented on risks to the outlook amid the Iran war: “In addition to energy and fuel related products, the Middle East is a major source of critical inputs to sectors ranging from agriculture, construction to plastics, semiconductor and healthcare, among others. These materials include petrochemicals & plastics (e.g. high-density polyethylene resin, methanol, glycol ether), aluminum, fertilizers (phosphate fertilizer, urea fertilizer, ammonia), sulfur and sulfuric acid, helium, steel structures and parts. As such the risk of broader supply-chain disruption rises the longer the conflict drags on.”

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Vietnamese industry projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Vietnamese industry.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Vietnamese industry projections.

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