Home » Industry » Industrial production index improves

VietnIndustrial production index improvesam’s index of industrial production (IIP) rose by 4.1 percent in August, bringing the eight-month figure to 4.7 percent over the same period last year according to the General Statistics Office (GSO).

Sectors recording a high year-on-year increase include shipping (over 150 percent), communication equipment production (64 percent), traffic vehicles (44 percent), electronic spare parts (29 percent), and crude oil (14 percent).

The gas and electricity sector rose by 12.7 percent, followed by water and sewerage treatment (9.8 percent), mining (4.9 percent), and processing and manufacturing (3.9 percent).

However, the GSO reported that inventory levels are rising in the processing and manufacturing sector. Other industries which have growing stockpiles are producers of fertilisers, plastics, cement, packaging products, and seafood.

It is predicted that local businesses will continue facing difficulties over the near term as consumer purchasing power has yet to improve.

(By VOV)

No comments yet... Be the first to leave a reply!