Manufacturing sector returned to growth in September as concerns around the outbreak of the COVID-19 pandemic in the country eased. Both output and new orders increased, while business confidence strengthened, and the rate of job cuts softened.
Industrial production index inched up 2.6 percent in the first seven months of 2020, the lowest level recorded in many years due to COVID-19, according to the General Statistics Office (GSO).
Industrial production was greatly affected by COVID-19 in the first half of 2020 but has gradually bounced back since May, according to the General Statistics Office (GSO).
The Index of Industrial Production (IIP) in the first four months of 2020 grew by about 1.8 percent year on year, the slowest pace in many years, due to COVID-19, according to the General Statistics Office (GSO).
The Ministry of Finance has submitted to the Government solutions to remove difficulties for production and business activities and support the market amidst the complicated developments of the COVID-19 outbreak.
The country’s industrial production index (IPI) in the first two months of 2018 expanded by 15.2 percent year-on-year, much higher than the growth of 2.4 percent recorded in the same period last year, reported the General Statistics Office (GSO).
The Index of Industrial Production (IIP) in January surged 20.9 percent from the same period of 2017, boosted by the Lunar New Year festival (Tet) not coinciding with the month and businesses’ production enhancement to serve soaring pre-Tet demand.
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