Nearly 78% of manufacturing firms expect stable or improved outlook in third quarter

Nearly four in five enterprises are expecting the outlook to be stable or improved in the third quarter of 2021, according to a survey conducted by the General Statistics Office (GSO).

Over 39% of manufacturing firms expect the outlook to improve in the third quarter of 2021.
Over 39% of manufacturing firms expect the outlook to improve in the third quarter of 2021.

Specifically, 39.2% of enterprises said their operation will see improvement during the July-September period while 38.6% stated that the outlook will be stable.

Meanwhile, 22.2% are expecting a worse situation in the third quarter.

According to the GSO, industrial production in the first half of 2021 rose 8.91% against the same period last year, in which manufacturing increased by 11.42%, contributing 2.9 percentage points to economic growth.

Currently large companies are looking to invest in the manufacturing of electronic parts and products in Vietnam.

In the first six months of 2021, power generation and distribution increased 8.16% and water supply and waste treatment rose 6.75%, while mining and quarrying fell by 6.61%.

Among the key industrial products with solid growth were rolled coil, cars, phone parts, mobile phones, fertilisers, and powdered milk.

As of June 30, the inventory index of the manufacturing sector rose 24.3% compared to the same time in 2020, with high inventory rates recorded in rubber and plastic products, timber, textiles, food processing, and chemicals.