Economic Update – Solid steps towards a “new normal”
- Vietnam’s 2Q20 GDP edged up 0.4% yoy, the slowest second quarter growth rate in a decade. Real GDP grew 1.8% yoy in 1H20.
- The service sector recovered faster than we expected, with total value of retail sales and services rising 6.2% mom and 5.3% yoy in Jun 20
- Headline inflation ticked up 0.7% mom in Jun 20, but remained manageable.
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