SGGPO
According to the General Statistics Office, industrial production (IIP) in May showed signs of improvement compared to April. Specifically, IIP in May is estimated to increase by 2.2% compared to the previous month and increase by 0.1% compared to the same period last year.
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| The socio -economic situation in May showed signs of improvement. Source: General Statistics Office |
In particular, the growth rate of IIP index in May compared to the previous month of some localities with large industrial scale is: Thai Nguyen increased by 3.3%; Hai Duong increased by 3.1%; Binh Duong increased by 2.6%; Bac Giang increased by 2.1%; Ho Chi Minh City increased by 1.5%; Long An increased by 1.2%; Quang Ninh increased by 1%; Vinh Long increased by 0.7%; Ba Ria - Vung Tau decreased by 2.9%; Hai Phong decreased by 10%...
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Source: General Statistics Office |
However, due to the difficulties in the world economy in the first months of 2023, the decrease in export orders has affected domestic industrial production activities. In the first 5 months of the year, IIP still decreased by 2% compared to the same period last year. In the same period in 2022, IIP increased by 8.1%. Of which, the processing and manufacturing industry decreased by 2.5% (in the same period in 2022, it increased by 8.9%), reducing 1.7 percentage points to the overall growth rate; the electricity production and distribution industry increased by 0.8%, contributing 0.1 percentage points; the mining industry decreased by 3.5%, decreasing 0.5 percentage points; the water supply, waste and wastewater management and treatment industry increased by 6.4%, contributing 0.1 percentage points to the overall growth rate.
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CPI increase/decrease rate in May 2023 compared to the previous month. Source: General Statistics Office |
According to the national statistics agency, total retail sales of goods and consumer service revenue in the first five months of the year achieved the highest growth rate compared to the same period since 2015 and increased by 28.3% compared to the first five months of 2019 - the year before the Covid-19 pandemic.
According to the General Statistics Office, the consumer price index (CPI) in May increased by 0.01% over the previous month. Compared to December 2022, the CPI in May increased by 0.4% and compared to the same period last year, it increased by 2.43%. On average, in the first 5 months of 2023, the CPI increased by 3.55% over the same period last year; core inflation increased by 4.83%.
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