Vietnam's economy grew faster than expected this quarter, signaling continued momentum to its recovery from the pandemic.
Gross domestic product likely expanded 5.92% in the three months to December, according to official data reported Thursday. That was faster than the 4.65% estimate in a Bloomberg survey and followed an upwardly revised 13.71% gain in the previous quarter.
The better-than-expected showing gives Vietnam's central bank the space to wait-and-watch before deciding to pivot monetary policy away from tightening. While the authority has raised the benchmark rate by 200 basis points in two moves this year to 6%, looming fears of debt default in Vietnam's property-sector has given reason for concern about a China-style growth hit.
