Macro update December 2022 - Manufacturing sector continued to struggle due to low demand
- The Vietnamese manufacturing sector continued to decline in December, mostly due to the weaker demand of key export markets such as China, E.U and U.S. PMI dropped to 46.4 in December from 47.4 in November, posting below the 50 for the second month, signaling a further deterioration in business conditions in the manufacturing sector.
- S&P Global Market Intelligence is predicting a rise of 6.8% in industrial production for 2023, which would represent a slowdown from 2022 due to weak demand of both domestic and global market. Therefore, GDP growth target of 6.5% in 2023 should be a challenge.
- Update Vietnam economic indicators in December 2022.
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