HANOI, Jan. 2 (Xinhua) -- Vietnam Purchasing Managers' Index (PMI), which measures economic health of the country's manufacturing sector, posted 53.8 points in December 2018, signaling a further solid improvement in the sector's health, the latest survey from Nikkei revealed on Wednesday.
Although down from November's reading of 56.5, the latest figure was equal to the average PMI for 2018, which is also the highest for any calendar year since the survey began in 2011.
Output continued to increase in December, with growth softening from that seen in November but remaining solid nonetheless. The same was true for new orders, where a marked expansion was recorded and extended the current sequence of growth to 37 months.
Manufacturers generally expect output growth to continue over 2019, with confidence linked to predictions of higher new orders and business expansion plans.
"This leaves the industry well placed to have a positive 2019 despite headwinds elsewhere in the global economy," Andrew Harker, associate director at IHS Markit, which compiles the survey, commented on the data.
Vietnam's PMI topped in Southeast Asia last month, led by the Philippines with 53.2 and Myanmar with 52.5, according to the survey.
