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ASIA: VIETNAM PMI’s Decline Further in January. 

ASIA
  • Vietnam’s PMI’s declined in January to +48.9 from +49.8 in December, the second consecutive month of contraction.
  • Output declined to +49 from +50.7
  • New orders fell from the prior month.
  • Whilst a worrying trend, the overall state of the Vietnamese economy remains strong with 4Q GDP ahead of consensus at +7.09%, CPI moderate and exports extremely strong. 
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  • Vietnam’s PMI’s declined in January to +48.9 from +49.8 in December, the second consecutive month of contraction.
  • Output declined to +49 from +50.7
  • New orders fell from the prior month.
  • Whilst a worrying trend, the overall state of the Vietnamese economy remains strong with 4Q GDP ahead of consensus at +7.09%, CPI moderate and exports extremely strong.