Vietnam’s economy returns to growth in October

November 9, 2021

HO CHI MINH CITY - ANZ Bank says its proprietary monthly activity tracker (AVAT) shows that Vietnam's economy expanded month-on-month in October, breaking a five-month long streak of declines. 

 While the threat of another pandemic wave remained, ANZ said, this would be mitigated by continued vaccination progress. However, in the near term, labour shortages as migrant workers stay away from business hubs could slow the pace of the rebound.   

"We expect Vietnam's recovery to be gradual in Q4, but to accelerate over the course of 2022," ANZ said. "We forecast a rebound in GDP growth to 8.0% next year, from our estimate of 1.4% for 2021.  (ATI).