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First Vietnamese PMI index launched
The HSBC Bank Vietnam launched the Purchasing Manager Index (PMI), an indicator of the economic health of the manufacturing sector, in Vietnam's Ho Chi Minh City on Tuesday.
According to Trinh Nguyen, an economist from HSBC, the survey, which has been conducted since April 2011, showed that the manufacturing output decreased while export turnover improved in Vietnam in April 2012.
Thanks to the sharp increase of new export orders, the downturn of the PMI in April 2012 slowed down to 49.5 points comparing to the figures of previous months.
For the first time since November 2011, manufactures have recorded an overall increase of the new orders from abroad for three consecutive months. The survey also indicated that goods inventory and employment rate in April increased slightly.
HSBC forecasts, Vietnam's GDP growth will reach 5.1 percent in 2012, interest rate in the open market with ten percent and exchange rate between Vietnamese dong (VND) and U.S. dollars at 21, 500 VND per one dollar.
Sumit Dutta, Chief Executive Officer for HSBC Bank Vietnam said that Vietnam is one of the fastest developing countries in the world and the country will maintain this pace thanks to the development of education and infrastructure.
The PMI is believed to provide useful and prompt information about manufactures for experts and policy-makers, Dutta added.
The PMI, launched for the first time in Vietnam in Ho Chi Minh City, some 1130 km south of capital Hanoi, is based on five major indicators including new orders, inventory levels, production, suppliers' delivery and the employment environment in 429 Vietnamese manufacturers.
Xinhuanet
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