Industrial production index rises 5.9 percent in May

Vietnam’s industrial production index (IPI) in May increased by 5.9 percent against the same period last year, the Government news portal reported, citing figures released by the General Statistics Office (GSO).

In the January-May period, industrial output saw a year-on-year increase of 5.6 percent.

The processing and manufacturing sector reported year-on-year growth of 7.5 percent, contributing 5.3 percent of the general growth. The production and distribution of the electricity sector jumped by 10.6 percent, while the water supply, sewage and waste management sector rose by 6.1 percent.

However, the mining sector's growth fell by 2.1 percent year on year.

The GSO also reported that Hai Phong took the lead with 11.7 percent growth rate in the first five months, followed by Quang Ngai (11.6 percent), Quang Nam (11.2 percent), and Da Nang (10.1 percent).

In the two biggest cities Ho Chi Minh City and Hanoi, IPI increased by 5.2 percent and 3.8 percent, respectively.

In April, the sale of the processing and manufacturing sector picked up 3.7 percent against the previous month and posted a year-on-year increase of 16.3 percent.

As of May 1, 2014, inventory level of the processing and manufacturing went up 12.6 percent against the same period last year. Meanwhile, the level of garments and textiles fell by 1.4 percent.-VNA

Source: Vietnamplus

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