February’s industrial production index declines due to lunar New Year
The nine-day Lunar New Year holiday made February’s index of industrial production (IIP) down 16.8 percent against the previous month, according to the General Statistics Office (GSO).
February’s index of industrial production decreases by 16.8 percent month-on-month (Source: VNA)
Hanoi (VNA) – The nine-day Lunar New Year holiday made February’sindex of industrial production (IIP) down 16.8 percent against the previousmonth, according to the General Statistics Office (GSO).
However, the IIP roseby 10.3 percent compared with the same period last year, driven by processingand manufacturing (up 12.8 percent), electricity production and supply (10.9percent), and water supply and waste-sewage treatment (7.2 percent).
In the first secondmonths of 2019, the IIP is estimated to increase by 9.2 percent year-on-year,lower than the growth rate of 13.7 percent of the same period last year.
The central provinceof Thanh Hoa led the nation with IIP growth of 46.7 percent in the period,thanks to the Nghi Son oil refinery company. It was followed by the centralprovince of Ha Tinh with 46.2 percent, driven by operations of the Hung NghiepFormosa Ha Tinh Steel Company.
Decreases werereported in the southern province of Ba Ria-Vung Tau and the northern provinceof Hoa Binh, at 3 percent and 5.3 percent, respectively, due to falls in theformer’s crude oil exploitation and power output of the latter’s Hoa BinhHydro-Power Plant.
The capital city of Hanoiand Ho Chi Minh City reported IIP rises of 6.2 percent and 6.1 percent,respectively.
According to the GSO,the number of labourers working in industrial firms recorded on February 1,2019 increased by 2.3 percent, in which state enterprises reported a fall of0.3 percent in the number of labourers, non-state enterprises reported anincrease of 2.3 percent and foreign-invested enterprises up 2.7 percent.-VNA
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Vietnam’s industrial production index (IIP) in January expanded 7.9 percent year-on-year, much lower than the growth rate of 22.1 percent the same time last year, according to the General Statistics Office (GSO).
Vietnam’s industrial production index (IIP) in January expanded 7.9 percent year-on-year, much lower than the growth rate of 22.1 percent the same time last year
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February’s index of industrial production decreases by 16.8 percent month-on-month (Source: VNA) 
