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Vietnam sees slower industrial production in 8 months

Xinhua, August 30, 2016 Adjust font size:

Vietnam is estimated to post a year-on-year increase of 6.9 percent in industrial production in the first eight months of 2016, said Vietnams General Statistics Office on Tuesday.

The figure was lower than that of the same period in 2015 when the growth of industrial production index stayed at 9.8 percent year-on-year, the office said in a report on socio-economic situation in eight months posted on its website.

The slowdown in industrial production was attributed to the continuous decrease in production of mining sector. In the first eight months, production index of mining sector is estimated to decrease by 3.8 percent year-on-year.

In the eight-month period, manufacturing and processing sector is forecast to go up 9.7 percent year-on-year, while electricity production and distribution to increase 11.8 percent year-on-year, and water supply and waste treatment is to hike 6.8 percent year-on-year.

As of August 1, the industrial manufacturing and processing inventory index went up 8.9 percent year-on-year, lower than that of 10.1 percent during the same period in 2015, said GSO. Endit