Vietnam's glowing economic statistics raise eyebrows at home
Skepticism about economic statistics released by Vietnam's central and local governments is spreading, as gross domestic product and tourism figures show marked improvement despite poor business sentiment. The country's structural steel industry has been hit hard by plummeting demand from lack of investment and an economic slowdown. Production facilities have seen operating rates fall to about 30%, and steelmakers are in the red. In the capital Hanoi, new buildings that have been abandoned mid-construction are becoming a more common eyesore. (July 15, 2023)

Applications open for 2024 ranking of Singapore’s fastest-growing companies
Firms can now throw their hat in the ring to be considered for the 2024 rankings of Singapore’s fastest-growing companies. The ranking lists 100 local businesses that achieved markedly high revenue growth between 2019 and 2022. Firms have until Aug 31 to put in their applications, noted Statista, the global data firm that collates the numbers and produces the annual league table in conjunction with The Straits Times. The new rankings, which will be the sixth in the series, will be published in January 2024. (May 31, 2023)

Indonesian consumer spending: Expecting an upward trend
Statistics Indonesia (BPS) released forecast-beating first-quarter Indonesian economic performance data on Friday. The economy grew at a rate of 5.03 percent year-on-year (yoy), higher than the previous quarter, suggesting continued economic recovery and resilience. As the major contributor to GDP, household spending is worth discussing and has been highly correlated with the consumer spending behavior in the last three years, especially during the pandemic. (May 10, 2023)
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