Vietnam Macro Monthly - Economy takes a Tet holiday
  • 2013-03-11T00:00:00
  • Macroeconomics
Because the week-long Tet holiday was in Febuary this year (as opposed to January in 2012), there were a lot of distortions to the economic numbers this past month. Sorting through the data, we conclude that consumption remains weak despite the uptick in retail sales, the CPI heated up because of higher food prices driven by Tet, and production dropped primarily because of fewer working days.