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).
Production of passenger cars at Ford Hai Duong automobile assembly plant (Photo: VNA)
Hanoi (VNA) - The index of industrial production (IIP) in May increased
by 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 treatment expanding 5% and 6.8%, and processing-manufacturing and mining shrinking by 0.5% and 2.9%, respectively.
However, the IIP for the first five months of 2023 fell 2% over the same period in 2022 as the global economy continued to face numerous difficulties and the number of orders for exports declined.
Specifically, the sub-indexes of the processing-manufacturing dropped 2.5%, and mining fell 3.5%.
Illustrative photo (Source: VNA)
The five-month index saw annual rises in 49 provinces and cities. The northern
province of Bac Giang took the lead with a growth of 15.4%., followed by Phu
Tho (15.2%), Hau Giang (13.9%), and Thai Binh (13.2%)./.