Hanoi’s February industrial production index down 27.2%
Hanoi’s index of industrial production for February fell by 27.2% from the previous month, but increased by 6.1% compared with that of the same period last year.
According to the municipal Department of Industry and Trade, in the first two months of 2016, the index was up 8.8% year-on-year.
Specifically, the mining industry posted a slight growth of 0.5%, while processing, manufacturing and power production rose by 8.8% and 5.7%, respectively.
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From January to February, production of food, clothes, metal and furniture recorded remarkable growth rates of 20.4%, 36.2%, 33.1% and 199.4%, respectively, compared with last year.
Economists attributed the decline in industrial production in February to the long holiday during the lunar New Year (Tet) festival. However, the industry and trade sector predicted that the city’s industrial production will grow steadily in the coming months.
