The national Index of Industrial Production (IIP) rose by 5.2 percent inOctober, helping boost the Index for the first 10 months by 7 percentover the same period last year, the General Statistics Office (GSO) hasreported.
Vu Quang Ha, a statistician at the GSO, blamedthe slow growth on domestic financial and monetary fluctuations,inflation and high interest rates.
The modest IPP increasewas also reflected by growing stockpiles of products. As of October,the stockpile index has increased by 21 percent compared with lastyear's corresponding period.
During that period, themining industry experienced a 0.7-percent drop in industrial outputwhile the manufacturing, gas and water sectors experienced growth ratesof roughly only 10 percent.
Among the main industries torecord a year-on-year decrease in the first nine months, natural gasfell 9.4 percent, electrical wire and cabling declined 20.9 percent andshipbuilding was down 22 percent.
However, some industrialproducts recorded significant growth including sugar, up 42.4 percent;automobiles, up 19.9 percent; cloth, up 15.1 percent; fertiliser, up 14percent; and footwear, up 10.6 percent.
During theJanuary-October period, Hanoi and HCM City's IPP surged 12.5 percent and12 percent, respectively, against the same period last year./.
Vu Quang Ha, a statistician at the GSO, blamedthe slow growth on domestic financial and monetary fluctuations,inflation and high interest rates.
The modest IPP increasewas also reflected by growing stockpiles of products. As of October,the stockpile index has increased by 21 percent compared with lastyear's corresponding period.
During that period, themining industry experienced a 0.7-percent drop in industrial outputwhile the manufacturing, gas and water sectors experienced growth ratesof roughly only 10 percent.
Among the main industries torecord a year-on-year decrease in the first nine months, natural gasfell 9.4 percent, electrical wire and cabling declined 20.9 percent andshipbuilding was down 22 percent.
However, some industrialproducts recorded significant growth including sugar, up 42.4 percent;automobiles, up 19.9 percent; cloth, up 15.1 percent; fertiliser, up 14percent; and footwear, up 10.6 percent.
During theJanuary-October period, Hanoi and HCM City's IPP surged 12.5 percent and12 percent, respectively, against the same period last year./.
