Vietnam PMI


Vietnam: Manufacturing PMI enters into expansionary territory in December

January 4, 2016

The Nikkei manufacturing Purchasing Managers’ Index (PMI) increased from 49.4 in November to 51.3 in December. The indicator is again above 50-threshold that separates contraction from expansion in business conditions. With the exception of two months in late 2015, the Vietnamese Manufacturing PMI has been in positive territory since September 2013.

The monthly figure reflects an increase in output, new orders and employment. Improved client demand helped increased new orders for the first time in four months, which, in turn, contributed to boost new export orders in December. Meanwhile, employment and staffing levels also increased during the month. Input prices continued to fall in December and led to lower selling prices. Nikkei stated that, “It was something of a relief to see the Vietnam PMI bounce back above the 50.0 no-change mark in December as it suggests that the recent soft-patch experienced both at home and in the wider region may have passed its worst point. A particular positive from the latest survey was a return to growth in new export orders after six successive months of decline.”

FocusEconomics Consensus Forecast panelists see investment rising 9.6% in 2016, which is unchanged from the previous month’s estimate. For 2017, the panel expects investment to grow 9.2%.

Author: Jean-Philippe Pourcelot, Economist

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Vietnam PMI Chart

Vietnam PMI November 2015

Note: Nikkei Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 point to a contraction.
Source: Nikkei and Markit

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