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Manufacturers in overdrive to cater to year-end consumption

Friday, 08/12/2023 | 08:30:00 [GMT +7] A  A

The General Statistics Office (GSO) reported optimistic signals in industrial production, attributing the positive trend to businesses securing orders and gearing up for year-end consumer demand.

Manufacturers in overdrive to cater to year-end consumption hinh anh 1
At an electronic assembling line in Bac Giang (Photo: VNA)

Specifically, the index of industrial production (IIP) in November rose by 5.8% annually, marking the highest growth since the beginning of this year.

Year on year, the manufacturing and processing sector grew by 6.3%, electricity production and distribution up 9.2%; water supply, waste and wastewater management treatment up 3.3%. However, the mining sector experienced a decrease of 3.8%.

Due to the global economic downturn, the overall IIP for the cumulative 11 months increased by only 1% annually. Despite this, it represented the highest year-on-year growth since early this year, indicating a positive recovery trend in industrial production.

In the industrial hub of the southern province of Binh Duong, a surge in orders has prompted numerous businesses to seek additional workers. Demand for recruitment extends from now until the year's end, ranging from 400 to 1000 workers per company.

In the bustling southern metropolis of Ho Chi Minh City, the IIP experienced a monthly surge of 3.85% and an impressive annual growth of 9.8%. Over an 11-month period, it recorded a 4.1% increase compared to the corresponding period last year.

Source: VNA