HANOI, Jun 26 (NNN-VNA) – The Standard Chartered Bank, forecast Vietnam’s gross domestic product (GDP) growth, in the second quarter to moderate to a still-strong 5.3 percent year-on-year, from 5.7 percent in Q1.
Vietnam’s retail sales growth is predicted to ease to 8.2 percent year-on-year, in Jun, from 9.5 percent in May.
The country’s export growth will decline to 14.2 percent year-on-year in Jun, said the bank.
Inflation may rise to 4.5 percent year-on-year in Jun, from 4.4 percent in May, marking a third straight month above four percent.
Tim Leelahaphan, economist for Thailand and Vietnam, the Standard Chartered Bank, said that, “despite the likely Q2 slowdown, we think Vietnam’s recovery remains intact. However, economic challenges could persist in Q3, amid rising price pressures, FX weakness and soft global demand.”
Earlier, Singapore-based United Overseas Bank predicted that Vietnam’s economic growth in Q2 will edge up to six percent from 5.66 percent in Q1.
The Vietnamese government has set a GDP growth target of 6-6.5 percent this year.– NNN-VNA
