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Tet slows factory output

Update: January, 31/2012 - 09:58

 

Employees of the Thuong Dinh Footwear Company in Ha Noi work on a production line. The capital city's industrial output this month fell because companies scaled back operations for the Lunar New Year holiday. — VNA/VNS Photo Ngoc Ha
HA NOI — The industrial output of Ha Noi fell this month as enterprises scaled back operations for the Tet (lunar new year) holiday.

The industrial production index in January was 86 per cent of December 2011 level and 99 per cent of the level in January of 2011, according to the Ha Noi Statistics Office.

Economists attributed the decline to the impact of the global economic downturn as well as the long new year holiday. Industrial producers had also ramped up output in December to anticipate holiday demand, resulting in an inevitable fall-off in January.

Most major industrial sectors saw declines in output, including garments, paper, pharmaceuticals and bathroom fixtures. Breweries saw a reduction of 25.6 per cent in output from previous month and a decline of over 38 per cent compared to the same time last year.

However, some products saw increases in output, including machinery and equipment, up 21.4 per cent, and tobacco, up 15.5 per cent.

Industrial production for all of last year increased against the previous year, according to the statistics office, with automobile production rising by over 33 per cent, production of bathroom fixtures and tobacco by about 23 per cent each, and beer production by 8.6 per cent. The city was also projecting an increase of 9.3-10.4 per cent in the production of prefab industrial buildings this year . — VNS

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