Several purchasing managers indexes were in negative territory across the region. The S&P Global PMI reading for Vietnam fell to 46.4 from 47.4 in November, its lowest reading since September 2021. A reading above 50 indicates expansion from the previous month, while anything below indicates contraction.
“There were widespread reports of weaker demand both at home and overseas, with firms commenting on reduced demand across Europe, mainland China and the US in particular,” said Annabel Fiddes, economics associate director at S&P Global Market Intelligence, in comments accompanying the data in Taiwan.
Encouragingly, manufacturers in China’s Caixin PMI survey expressed stronger optimism about the outlook for the year ahead.
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