The expansion in Vietnam’s manufacturing sector in December 2018 slowed from a near-record pace in November 2018 as output growth eased, according to a survey by Nikkei.
The Nikkei Vietnam Manufacturing Purchasing Managers’ Index, or PMI, fell from 56.5 in November to 53.8 in December, remaining comfortably above the 50-point line separating expansion from contraction. December rounded off a positive year for Vietnamese manufacturers, with its average PMI the highest since the survey began in 2011.
According to latest report on Nikkei, output and new orders remained solid albeit softening from November. New export business also rose at a solid pace. Manufacturers generally expect output growth to continue over the coming year, according to the survey.
The reading “leaves the industry well placed to have a positive 2019 despite headwinds elsewhere in the global economy,” said Andrew Harker, Associate Director at IHS Markit, which compiles the survey.
Read original report on Nikkei