The Hong Kong and Shanghai Banking Corporation (HSBC) has released its Vietnam Manufacturing PMI (Purchasing Managers’ Index) in December 2012 which showed the level of manufacturing output was broadly unchanged during the month.
With 49.3 in December, the average PMI reading in the fourth quarter of 2012 was 49.5, up from 46.9 in the third quarter and the highest since the third quarter of 2011.
“The economy is stabilising, as indicated by the output level,” commented Trinh Nguyen, Asia Economist at HSBC, in a press release on January 2.
However, the HSBC economist warned that “the economic recovery process is still in its fragile state as external demand remains weak and consumer confidence is subdued.”
The HSBC Vietnam Manufacturing PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 400 manufacturing companies. -VNA
With 49.3 in December, the average PMI reading in the fourth quarter of 2012 was 49.5, up from 46.9 in the third quarter and the highest since the third quarter of 2011.
“The economy is stabilising, as indicated by the output level,” commented Trinh Nguyen, Asia Economist at HSBC, in a press release on January 2.
However, the HSBC economist warned that “the economic recovery process is still in its fragile state as external demand remains weak and consumer confidence is subdued.”
The HSBC Vietnam Manufacturing PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 400 manufacturing companies. -VNA
