December NODX will be just as lacklustre as November's

Sluggish manufacturing PMI says it all, according to Maybank.

Here's more from Maybank Kim Eng:

Not much improvement expected in NODX for Dec 2012 given the continued below-50 manufacturing PMI readings for export orders in Nov 2012. The overall manufacturing PMI last month came in at 48.8 (Oct 2012: 48.3), the first month of improvement since May 2012 but the fifth straight month of below 50 readings. The PMI component for manufacturing new exports orders also recorded a higher reading of 48.5 (Oct 2012: 48.0) but stuck at less than 50 since Sep 2012. Meanwhile, the sub-index for Electronics export orders dipped to 45.1 (Oct 2012: 47.5).

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