Vietnam Macro Monitoring, January 2025

Industrial production increased in December 2024. The Index of Industrial Production (IIP) increased from 1.6 percent (m/m, SA) in November to 2.1 percent (m/m, SA) in December 2024, as businesses ramped up production to meet year-end consumer demand. The improvement is due to the increased production of key export products such as textiles, footwear, furniture, electronics, and electrical equipment. Manufacturing production for domestic consumption such as food and beverages also expanded. However, in terms of prospects, Viet Nam's PMI was down from 50.8 in November to 49.8 in December, entering contractionary territory, as new orders growth slowed, while firms scaled back employment and inventories