Business

May industrial production index inches up 2.2%

The index of industrial production (IIP) in May increased by 2.2% against the previous month, according to the General Statistics Office (GSO).
May industrial production index inches up 2.2% ảnh 1Production of passenger cars at Ford Hai Duong automobile assembly plant (Photo: VNA)
Hanoi (VNA) - The index of industrial production (IIP) in May increasedby 2.2% against the previous month, according to the General Statistics Office(GSO).

Compared to last year, the index inched up 0.1%, with power production and distribution as well as waste/waste water management and treatmentexpanding 5% and 6.8%, and processing-manufacturing and mining shrinking by 0.5% and2.9%, respectively.

However, the IIP for the first five months of 2023 fell 2% over the same periodin 2022 as the global economy continued to face numerous difficulties and thenumber of orders for exports declined.

Specifically, the sub-indexes of the processing-manufacturingdropped 2.5%, and mining fell 3.5%.

May industrial production index inches up 2.2% ảnh 2Illustrative photo (Source: VNA)
The five-month index saw annual rises in 49 provinces and cities. The northernprovince of Bac Giang took the lead with a growth of 15.4%., followed by PhuTho (15.2%), Hau Giang (13.9%), and Thai Binh (13.2%)./.
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