Expectations positive for Q4 business prospects
Expectations positive for Q4 business prospects
About 85.6 per cent of the surveyed 4,028 enterprises in the processing-manufacturing sector expect to maintain their current growth trends or expand their business operations in the fourth quarter. The findings were released by the General Statistics Office (GSO) late last month.
According to data from the GSO, 46.8 per cent of respondents were upbeat about their performance prospects, another 38.8 per cent forecast stable business operation while 14.4 per cent said that they would face difficulties.
Escalating and stable output production will be seen in 86.2 per cent of the surveyed businesses while only 13.8 per cent forecast a decline. The foreign-invested sector has the highest amount of enterprises expecting a productivity surge in the last quarter of this year with 53.5 per cent, followed by State-owned enterprises with 50.7 per cent and private enterprises with 47.2 per cent.
Regarding the number of orders, 87.3 per cent of the respondents anticipated higher stable orders in the next three months and 12.7 per cent said that they would have fewer orders than the previous quarter.
The largest number of orders is predicted to be in the pharmaceutical production sector, the electronic production sector and other manufacturing industries.
Additionally, 86.9 per cent of the enterprises are preparing for stable export orders during the period while 13.1 per cent prophesied a fall. Foreign-invested enterprises had the highest optimism for export order increases with 41.5 per cent of the respondents compared to the private sector with 35.7 per cent and the State-owned sector with 29.6 per cent.
Pham Dinh Thuy, Head of the Industrial Statistics Department, affirmed that industrial production is making a remarkable recovery from its recession between 2008 and 2014.
