HANOI, June 25 (Xinhua) -- The Standard Chartered Bank forecast Vietnam's gross domestic product (GDP) growth in the second quarter to moderate to a still-strong 5.3 percent year-on-year from 5.7 percent in Q1, Vietnam News reported Tuesday.
Vietnam's retail sales growth is predicted to ease to 8.2 percent year-on-year in June from 9.5 percent in May.
The country's export growth will decline to 14.2 percent year-on-year in June, said the bank.
Inflation may rise to 4.5 percent year-on-year in June from 4.4 percent in May, marking a third straight month above 4 percent.
Tim Leelahaphan, economist for Thailand and Vietnam, the Standard Chartered Bank, said that "despite the likely Q2 slowdown, we think Vietnam's recovery remains intact. However, economic challenges could persist in Q3 amid rising price pressures, FX weakness and soft global demand."
Earlier Singapore-based United Overseas Bank predicted that Vietnam's economic growth in Q2 will edge up to 6 percent from 5.66 percent in Q1.
The Vietnamese government has set a GDP growth target of 6-6.5 percent this year. ■