Vietnam’s Index of Industrial Production (IIP) in January is estimated to have fallen 14.6 per cent over December and 8 per cent year-on-year, according to the General Statistics Office (GSO).

Of note, the manufacturing sector fell 9.1 per cent year-on-year and mining 4.9 per cent. However, water supply and sewerage and waste management and remediation activities increased 3.7 per cent.

The fall was attributed to fewer working days in January compared to December, as workers had a long holiday of 8-10 days for the Lunar New Year (Tet). A strong decline in orders also affected industrial production, according to the GSO.