Vietnam 

South eyes increased FDI in manufacturing – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Foreign direct investment (FDI) in manufacturing in the Southern Key Economic Zone last year exceeded the target, and authorities in the provinces and cities comprising the zone are hoping the trend will continue. “In 2018 Bình Dương Province focused on attracting FDI in processing and manufacturing, trade, services and technology,” Nguyễn Thanh Trúc, director of the provincial Department of Planning and Investment, told Đầu Tư (Việt Nam Investment Review) newspaper. Bình Dương was the fourth biggest recipient of FDI in the country with…

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Home 

As Foxconn changes US manufacturing plans, job promises fall short

It has been 18 months since Foxconn Technology Group, the world’s largest electronics contract manufacturer, announced to great fanfare that it was building a US$10 billion factory to make television screens on farmland in southeastern Wisconsin in the United States. The plan was as big as it was audacious: Fuelled with billions in taxpayers subsidies, the Taiwanese company, formally known as Hon Hai Precision Industry, would build a 22 million square-foot campus, filled with 13,000 highly paid workers. In the process, it would transform the sleepy village of Mount Pleasant,…

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China 

Bad start continues for China economy as private data shows manufacturing activity weakest since 2016

China’s factory activity contracted for a second consecutive month in January, with the pace of the downturn picking up speed, due in large part to the effects from the ongoing trade war with the United States. The Caixin Purchasing Managers’ Index (PMI), which tracks the activities of small- and medium-sized manufacturing enterprises, fell to 48.3 from 49.7 in December, well below the 49.5 reading analysts expected in a Reuters poll. The January reading is the lowest since February 2016. Readings below 50 indicate that manufacturing sector activity contracted during the…

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China 

China’s manufacturing shrank again in January, as fears of economic slowdown mount

Factory activity in China contracted for a second consecutive month in January, as the trade war with the United States and a domestic slowdown continue to weigh on the world’s second largest economy. The official purchasing managers’ index rose to 49.5 this month from 49.4 in December. This was higher than the expectations of a group of analysts polled by Bloomberg, which had predicted that it would dip slightly to 49.38. However, anything below 50 represents a contraction, meaning that for the second month in a row, one of the…

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Vietnam 

Manufacturing, processing sector drives development – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Industry and Trade sees supporting the manufacturing and processing industry as the key to boosting socio-economic development this year. According to Deputy Minister Hoàng Quốc Vượng, the ministry will continue to accelerate the restructuring of the economy to promote the industry and reduce the assembly of industrial products manufactured in Việt Nam. “We will complete mechanisms and policies to support domestic production, develop supporting industries and increase localisation rates,” Vượng said. This goal for the manufacturing and…

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China 

China economy endures bad start to 2019 as private data highlights weakening manufacturing sector

China’s slim hopes of an economic upturn in 2019 suffered a blow on the first working day of the new year as a privately complied economic gauge showed signs of weakening manufacturing activities. The Caixin Purchasing Managers’ Index (PMI), which tracks the activities of small and medium-sized enterprises, dipped below 50.0 for the first time since May 2017 as December’s reading fell 0.5 points to 49.7. A drop below 50.0 indicates contraction compared to expansion. It follows Monday’s release of the official PMI complied by China’s National Bureau of Statistics,…

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China 

China’s economy slows further as manufacturing contracts for first time in two and a half years

China’s economy slowed further in December, with data released on Monday showing manufacturing sector activity contracted for the first time in two and a half years. The purchasing managers’ index (PMI) fell to 49.4 from 50.0 in November, with December falling below the watershed point between expansion and contraction in the sector for the first time since dropping to 49.9 in July 2016. It was also the lowest since hitting 49.0 in February 2016. The decline was largely unexpected, with the median forecast in a Bloomberg survey predicting an unchanged…

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China 

China’s manufacturing and private firms will get more support, says economic planning chief

The head of China’s top economic planning agency said it would roll out more supportive measures to boost the economy, especially in the advanced manufacturing sector, state media reported on Saturday. China would vigorously support the private sector and resolve the financing difficulties of private firms, the official Xinhua news agency quoted National Development and Reform Commission chairman He Lifeng as saying at a year-end conference. China will keep economic growth within a reasonable range and actively manage external risks and challenges, He said, in comments largely in line with…

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Vietnam 

Manufacturing sector output rises at near-record pace in November – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s Manufacturing Purchasing Managers’ Index (PMI) rose from 53.9 points in the previous month to reach 56.5 points in November, according to the latest survey from Nikkei’s IHS Markit, released on Monday. Manufacturing business conditions during November improved to one of the greatest heights in the near eight-year history of the survey. The consumer goods sector was the strongest performer of the three broad sectors covered in the latest survey period, witnessing the fastest rises in output, new orders and employment. New…

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Home 

China manufacturing sector improves marginally in November on stronger domestic demand, new data shows

The Chinese manufacturing sector activity improved marginally in November, as a rise in domestic demand offset a contraction in foreign orders, according to new economic data released Monday. However, manufacturing sector growth remained weak in November, the data showed. The manufacturing purchasing managers’ index compiled by Markit and published by Caixin inched up to 50.2 in November, slightly above the 50.1 level forecast by analysts in a Bloomberg survey and the 50.1 reading in October. The index level of 50 is the dividing point between expansion and contraction in the…

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