Economic acceleration on external hopes
Economic activities accelerated further in October, primarily thanks to the impressive improvement in export activities. In more detail, it seems the negative impact of external factors on Vietnam's economy has become less severe when the end of the global trajectory of rate hikes was counting down. Export turnover continued growing at a higher pace, and registered FDI surged. However, domestic consumption decelerated significantly due to prolonged cautious spending, subdued foreign tourism, and a lingering reduction in manufacturing employment. For future developments, we expect the export activities to recover and overwhelmingly drive economic activities to accelerate in the next month.