HANOI (XINHUA) – Vietnamese manufacturing business sentiment is set to rise in the third quarter (Q3) on the back of the country’s unexpectedly higher economic growth in the second quarter and an optimistic outlook for the year, Vietnam News reported on Friday, citing the latest survey by the General Statistics Office.
About 82.9 per cent of businesses in the survey expect improved or stable business activities in the third quarter compared to the second quarter. In comparison, 17.1 per cent foresee greater difficulties.
This marked an improvement compared to the previous survey, where 77.6 per cent of businesses forecast more favourable or stable production and business activities and 27.1 per cent predict greater difficulties.
In the second quarter, the two major challenges for the manufacturing and processing industry are “low domestic market demand” and “high competition from domestic products,” with 53.4 per cent and 50.4 per cent of enterprises identifying these issues, respectively, said the survey.
Vietnam’s economy grew by 6.93 per cent in the second quarter and 6.42 per cent in the first half of the year, according to the office.
