Vietnam: Manufacturing PMI inches down in December
January 3, 2017
The Nikkei manufacturing Purchasing Managers’ Index (PMI) decreased from November’s 54.0 points to 52.4 points in December. The indicator remained above the 50-threshold that separates improvement from deterioration in business conditions, where it has stayed almost uninterruptedly for the last three years.
Output and new orders continued to grow in December, though at a slower rate than in November. Manufacturers reported that they were able to create new jobs again in December and that their backlog of work declined slightly due to the mild deceleration in new orders. On the back of steadily expanding demand, businesses stocked up their inventories. Regarding prices, input costs continued to climb up significantly but manufacturers were also able to hike their sales prices.