HCMC – Industrial production in HCMC has shown impressive growth, with the city’s index of industrial production (IIP) rising by 7.1% in the first 11 months of this year against the same period last year.
According to the HCMC Statistics Office, the IIP in November picked up by 1.7% compared to the previous month and 9.7% year-on-year. In January-November, the index grew by an estimated 7.1% against the same period last year.
The growth was driven by a 43.2% surge in the mining sector, a 7.0% increase in manufacturing and processing, and a 5.6% rise in electricity generation and distribution. The water supply and waste treatment sector also recorded growth of a slight 0.4%.
The city’s consumer price index (CPI) in November rose by 0.51% month-on-month, with nine out of 11 groups of items recording price increases.
The housing, electricity, water, fuel, and construction materials group saw the most significant rise at 1.29%, while the post and telecommunications group recorded the largest decline at 1.49%.
For the January-November period, the CPI increased by 3.19% over the same period last year.
Among commodity groups, education saw the highest growth at 8.16%, followed by pharmaceuticals and healthcare services at 7.87%, while the post and telecommunications group declined by 2.69%.
Driven by consumer stimulus policies and market stabilization efforts, HCMC’s total retail sales of goods and consumer service revenue in November grew by 1.3% month-on-month and 13% year-on-year, reaching more than VND111.65 trillion.
Over the 11-month period, total retail sales rose by 10.4% year-on-year to VND1 quadrillion.
