Signs are now suggesting that it may be time for Vietnam’s external sector to brace for a bumpy road ahead, according to HSBC’s latest report.
Renewed expansions were seen for output, new orders and purchasing activity, while business confidence jumped higher, according to the latest manufacturing purchasing managers' index (PMI) survey.
While many countries in the world still have to fight the second coronavirus wave, Vietnam has come back to the normal life thanks to effective containment strategy.
Vietnam’s PMI has slumped to a six-month low in August due to slower client demand and US-China trade tensions restricting new orders and production, according to IHS Markit.
Should the PMI remain around the current level for the rest of the quarter, PMI-based estimates suggest that Vietnam’s manufacturing output will be set for further double-digit year-on-year growth in the third quarter of 2019, according to IHS Markit.
Despite the shadow of US-China trade tensions, Vietnam posted strongest new order growth
December data completes positive year for Vietnam’s manufacturing sector with further solid rises in output and new orders as well as input costs decrease for first time in 34 months.
Although the global demand is slowing down, Vietnam manufactures expect product diversification, robust demand conditions and set targets to boost production in the coming 12 months.
Vietnam Manufacturing Purchasing Managers’ Index (PMI) in September shows the first reduction in output prices in 13 months, slower rises in output, new orders and employment but business confidence rebounded from August’s low.
Although Vietnamese manufacturing sector continued to grow solidly during August, confidence dropped sharply and was the lowest since the series of PMI began in April 2012.
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