Ho Chi Minh City’s industry sector is showing signs of recovery, posting an increase of 1.5 per cent in its Index of Industrial Production (IIP) in May compared to April, according to the city’s Statistics Office.

The IIP also surged 5.5 per cent compared to May last year.

In the first five months it was up 1.6 per cent year-on-year.

The Statistics Office also reported that the total retail sale of products and services during the five-month period was up 6.2 per cent year-on-year. The retail sale of products rose to VND277.6 trillion ($11.7 billion), up 9.4 per cent compared to the same period last year.

Regarding public investment disbursement, the city is estimated to have disbursed over VND9 trillion ($379 million) this year by the end of May, or 12.8 per cent of the annual plan set by the government.