Vietnam’s macro economy shows strong recovery: WB

(VOVWORLD) - Vietnam’s industrial production index increased by 10.4% in May, comparable to its pre-pandemic rates, suggesting strong recovery of private consumption amid heightened global uncertainties, according to the Vietnam Macro Monitoring report released by World Bank.

The Purchasing Managers' Index (PMI) manufacturing jumped from 51.7% in April to a 12-month high of 54.7% in May, which indicates strengthening expansion in manufacturing. Retail sales increased by a record 22.6% in May, compared to the 12.7% in April.

Thanks to strengthening domestic demand, total revenue collection increased by an estimated 29.4% in May, keeping the budget in surplus for the fifth consecutive month, the WB’s report said.

Inflation edged up but remained well below the 4% target. Producer price inflation showed signs of easing in May. Both input costs and output prices increased at the slowest rates in three months, according to the report.

Related News