February 5, 2020 / 5:41 AM / 22 days ago

CORRECTED (OFFICIAL) -Vietnam says Q1 GDP growth likely to be 1 percentage point slower vs target

(Please read in headline and first paragraph Vietnam’s Q1 GDP growth to be 1 percentage point slower than target, not to shrink by 1%, to comply with official correction.)

HANOI, Feb 5 (Reuters) - Vietnam’s gross domestic product growth in the first quarter of this year will likely be one percentage point slower than target due to China’s fast-spreading coronavirus epidemic and a week-long Lunar New Year holiday, the government said on Wednesday.

Vietnam’s aviation, tourism, agriculture industries and exports are expected to take a hit from the epidemic, the government said in a statement.

“If Chinese economy slowed significantly, it would continue to impact Vietnam,” the statement said.

China, where the epidemic has killed 490 people, is Vietnam’s largest trading partner. (Reporting by Khanh Vu Editing by Shri Navaratnam)

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