Despite this optimistic projection, the bank maintained its full-year GDP growth forecast for 2023 at 5.4 per cent, which is below Vietnam’s national growth target of 6.5 per cent.
Standard Chartered also shared specific sectoral forecasts. Retail sales growth for September is expected to reach 8.2 per cent. On the other hand, a decline is expected in exports and imports, dropping by 6.2 per cent and 7 per cent respectively. Industrial production is slated to increase by 3.2 per cent.
The inflation rate is predicted to be 3.2 per cent for this month, showing a slight rise compared to the 3 per cent recorded last month. The bank’s projections come as other domestic and international organisations predict that Vietnam’s economic growth for the year may fluctuate below 6 per cent.
ALCHEMPro News Desk (NB)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
