HSBC raises Vietnam 2024 GDP growth forecast to 6.5%

HSBC Bank on Friday raised its forecast for Vietnam's gross domestic product growth for this year to 6.5% from its previous forecast of 6.0%, after second-quarter growth beats consensus.

"Beyond headline numbers, its recovery has started to show signs of broadening out," HSBC said in a note.

It said, however, inflation appears to be an imminent concern with higher pork prices, resulting from an African swine fever outbreak, keeping inflation elevated on a year-on-year basis in June.