The Hong Kong and Shanghai Banking Corporation (HSBC) released itsVietnam Manufacturing PMI (Purchasing Managers’ Index) in January, 2013,which showed that Vietnam’s economy is recovering despite manydifficulties in the coming time.
The index roseto 50.1 in January, up from 49.3 in December, 2012, meaningmanufacturing production increased for the third successive month.Companies benefited from a slight increase in new orders from thedomestic market.
However, demand from overseasremained weak, leading to a fall in new export orders. Vietnamesemanufacturers reported declining new orders from the Eurozone andChina.
Vietnam’s manufacturing sector sawmarginal job growth in January. There was also a solid increase inaverage input price, a significant turnaround from the previous month.
On the other hand, Vietnamese manufacturers stillwant to reduce their stock level in January, which is reflected in thecontinuous decline in stockpiled raw materials and finished goods. Thedecline in stored finished products was the deepest in the past 22months. Purchasing power also rose for the second time in the last threemonths.
Trinh Nguyen, an economist at HSBC, hopedthat Vietnam’s economy will continue to recover in 2013, withsuperior growth to 2012. However, he warned that the recovery process isstill fragile as there is economic restructuring in progress. Therising price of goods and inflation is another challenge.-VNA
The index roseto 50.1 in January, up from 49.3 in December, 2012, meaningmanufacturing production increased for the third successive month.Companies benefited from a slight increase in new orders from thedomestic market.
However, demand from overseasremained weak, leading to a fall in new export orders. Vietnamesemanufacturers reported declining new orders from the Eurozone andChina.
Vietnam’s manufacturing sector sawmarginal job growth in January. There was also a solid increase inaverage input price, a significant turnaround from the previous month.
On the other hand, Vietnamese manufacturers stillwant to reduce their stock level in January, which is reflected in thecontinuous decline in stockpiled raw materials and finished goods. Thedecline in stored finished products was the deepest in the past 22months. Purchasing power also rose for the second time in the last threemonths.
Trinh Nguyen, an economist at HSBC, hopedthat Vietnam’s economy will continue to recover in 2013, withsuperior growth to 2012. However, he warned that the recovery process isstill fragile as there is economic restructuring in progress. Therising price of goods and inflation is another challenge.-VNA
