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More than half of processing and manufacturing firms expect to perform better in Q2

Update: August, 13/2019 - 09:26

 

Automobile frame manufacturing in THACO factory in Chu Lai industrial park, Núi Thạnh district, Quảng Nam. — VNA/VNS Photo

HÀ NỘI — Up to 53.1 per cent of enterprises in the processing and manufacturing industry expect to perform better in the third quarter of 2019, according to the General Statistics Office (GSO).

Meanwhile, 10.6 per cent said business is going to get more difficult.

The predictions are based on a survey conducted by the GSO of more than 6,500 processing and manufacturing firms nationwide.

About 58.6 per cent of the firms forecast an increase in their production in the second half of 2019, while 8.1 per cent predicted a reduction and 33.3 per cent foresaw stability in their performance compared to the first half of this year.

Of them, about 91.1 per cent of foreign direct investment (FDI) enterprises in the processing and manufacturing industry were optimistic their business in the third quarter would be better than in the second.

Some 88.9 per cent of non-State businesses and 87.9 per cent of State-owned enterprises also expressed optimism.

The survey indicated 90.7 per cent of enterprises said they would stabilise or increase production costs in the third quarter, while 9.3 per cent expected falling production costs.

The industries that forecast lower production costs in the third quarter compared to the second quarter of 2019 include electronics, computer and optical products (14.2 per cent), paper and paper products (12.5 per cent), automobile production (12.1 per cent) and electrical equipment production (11.5 per cent).

About 89.7 per cent of the enterprises estimated they would receive the same or more orders in the third quarter, while 10.3 per cent said they would receive fewer orders than in the second quarter.

Meanwhile for the last six months of this year, 91.9 per cent of the firms will see an upturn or balance in the number of orders, while 8.1 per cent are likely to suffer a downturn.

Industries with a high forecast rate of new orders in the last six months of the year include electronics, computer and optical products (64 per cent), leather and similar products (62.3 per cent), costume production (61.2 per cent), automobile production (58.5 per cent), rubber and plastic production (57.9 per cent), medicines, pharmaceutical chemicals and pharmaceuticals (57.3 per cent). — VNS

 

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