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Standard Chartered Bank predicts rebound for Viet Nam in second half of 2023

VGP - Standard Chartered Bank predicted a rebound in the second half of the year for Viet Nam’s economy, after early signs of a recovery in the second quarter.

September 26, 2023 6:34 PM GMT+7
Standard Chartered Bank predicts a rebound in second half of 2023 for Viet Nam - Ảnh 1.

In its recent global research report, the bank forecasted that Viet Nam's GDP growth is likely to pick up to 5.1 percent year-on-year in the third quarter of this year, from 4.1 percent in the second quarter.

The bank keeps its 2023 GDP growth forecast for Viet Nam unchanged at 5.4 percent.

September data is likely to show a slight improvement over August, supported by retail sales, according to Standard Chartered. September retail sales growth is expected to stay robust at 8.2 percent from a year earlier and industrial production growth is set to pick up to 3.2 percent.

Viet Nam received close to 7.8 million foreign visitors in the first eight months of 2023, close to the full-year target of 8 million.

However, the recovery remains tentative–trade is still contracting, manufacturing could stay lacklustre for some time, and FDI recovery prospects are unclear, noted the bank.

Viet Nam's GDP growth accelerated to 4.14 percent in April-June period from 3.32 percent in the previous quarter, the General Statistics Office (GSO) announced./.