Vietnam Economic Outlook
March 19, 2019Economic momentum appears to be holding up in the first quarter of the year as the resilient manufacturing sector defies external headwinds from weakening global growth and the slowdown in China. Industrial production picked up in February on stronger manufacturing output, although growth in the first two months was well below that of the same period last year. Manufacturing operating conditions also improved in the same month—albeit at the softest pace in nearly three years. The continued expansion in the manufacturing sector likely fed through to the external sector, with merchandise exports growing at a solid clip in the first two months of the year. Meanwhile, retail sales gathered steam in February, underpinned by a rock-solid labor market, while tourist arrivals recorded double-digit growth in February which, in turn, likely propped up services exports and consumer spending.
Vietnam Economic GrowthWhile growth is expected to cool from 2018’s robust showing, the economy should remain on solid footing in 2019. Industrial output and investment are expected to stay robust as Vietnam continues to solidify its position as a global manufacturing hub. Likewise, exports and FDI inflows will likely be resilient despite headwinds from slower global growth and U.S.-China trade tensions. Met the why particular panelists project the economy expanding 6.6% in 2019, which is unchanged from last month’s forecast, and 6.4% in 2020.
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|Bond Yield||4.81||-0.13 %||Mar 20|
|Exchange Rate||23,211||0.01 %||Mar 20|
|Stock Market||1,002||0.15 %||Mar 20|
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Vietnam Economic News
March 1, 2019
According to data released by Nikkei and IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) edged down to a 35-month low of 51.2 points in February from 51.9 points in January, on muted demand and falling employment.
February 28, 2019
According to the General Statistics Office of Vietnam, consumer prices rose 0.80% in month-on-month terms in February, contrasting the 0.11% fall recorded in January.
February 28, 2019
Industrial production jumped 11.1% over the same month last year in February, accelerating from the revised 8.1% increase logged in January (previously reported: +7.9% year-on-year).
February 1, 2019
According to data released by Nikkei and IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) fell to 51.9 points in January from 53.8 points in December, on broad-based weakness among the components.
January 29, 2019
Industrial production increased 7.9% over the same month of last year in January, moderating from the 11.4% rise registered in December.