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GTJASVN_Macro Report_Macro December Data Comment_ 12/2022

30/12/2022

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GDP’S GROWTH REACHES 5.92% IN Q4, MAKING TOTAL GDP’S GROWTH IN 2022 REACHES 8%: In the two largest contribution areas to the economy, industry & construction and services, services were the growth engine in the fourth quarter and returned to the stable growth of the pre-Covid period, while the industry & construction area continued to show modest growth and the slowest growth in the fourth in the 2011 – 2022 period

INFLATION CONCERN STILL STAYS: From flash data, inflation is still a hot issue when both total inflation and core inflation in December 2022 compared to the same period in 2021 are above 4.5%. The notable point is that core inflation has increased sharply and exceeded total inflation. Despite a sign of cooling down in recent months, the Core inflation compared to previous months in 2022 remained quite high as the cause of this situation.

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