Consumer purchasing rose by 8.1 percent in January, compared to the sameperiod last year, according to the General Statistics Office (GSO).
However, the increase is far below the 22-percent pace seen during the same month a year ago, the GSO said.
GSO economist Vu Manh Ha attributed the slower pace of growth to Tetfalling in February this year, instead of January, with January figuresnot reflecting holiday bonuses.
He noted that purchasing power in February is set to exceed last year’s figure of 209.5 trillion VND (10 billion USD).
The seasonal rise in retail sales before the nation’s biggest holidayis also expected to help reduce inventories significantly.
Theinventory index currently stands at 21.5 percent but such products asbeer, tobacco, sugar and processed seafood are expected to see strongdecreases in inventories following the holiday shopping season.-VNA
However, the increase is far below the 22-percent pace seen during the same month a year ago, the GSO said.
GSO economist Vu Manh Ha attributed the slower pace of growth to Tetfalling in February this year, instead of January, with January figuresnot reflecting holiday bonuses.
He noted that purchasing power in February is set to exceed last year’s figure of 209.5 trillion VND (10 billion USD).
The seasonal rise in retail sales before the nation’s biggest holidayis also expected to help reduce inventories significantly.
Theinventory index currently stands at 21.5 percent but such products asbeer, tobacco, sugar and processed seafood are expected to see strongdecreases in inventories following the holiday shopping season.-VNA
