Vietnam: Manufacturing PMI ticks down in January
January 5, 2015
The HSBC manufacturing Purchasing Managers’ Index (PMI) inched down from 52.7 in December to 51.5 in January, thus marking a three-month low. Despite the slight decrease, the index remains above the 50-threshold, where it has been for the last 15 months.
The monthly decrease came on the back of a deceleration in external demand. However, competitive pricing in the domestic market has countered the slowdown of global demand. HSBC added that, “with input prices decelerating, thanks to the sharp decline of oil prices, and inventories low, we expect output to continue to expand in February, although the Lunar festivity means that there will be some seasonal slowdown.”
Author: Dirina Mançellari, Senior Economist