HSBC has revised its growth forecast for Vietnam this year up to 6.6 per cent, days after data from the General Statistics Office showed the economy grew 7.46 per cent in the third quarter year-on-year; its strongest third-quarter growth since 2010.
In a recent statement, the bank said that July-September growth was “surprising”. It had lowered its growth forecast from 6.4 to 6 per cent in July after the economy hit a three-year low of 5.2 per cent growth in the first quarter.
A continued rise in exports and industrial production were some of the primary drivers of growth, as the strong tech cycle in the second quarter persisted throughout the third quarter, the bank noted. Continue reading “HSBC raises growth forecast to 6.6%”