HCMC – The index of industrial production (IIP) of HCMC in January fell 21.4% against December last year and 15% against the same period last year, according to the city’s Department of Industry and Trade.

The IIP fall resulted from the week-long Lunar New Year holiday in the final week of last month.

Output of HCMC-based processing and manufacturing sectors dropped 22% compared to December 2022, while power production and distribution plummeted 12.8%.

Still, beverage, coking coal and refined petroleum products were among the sectors that saw growth over the same period last year.