Renewed expansions were seen for output, new orders and purchasing activity, while business confidence jumped higher, according to the latest manufacturing purchasing managers' index (PMI) survey.
Vietnam’s PMI has slumped to a six-month low in August due to slower client demand and US-China trade tensions restricting new orders and production, according to IHS Markit.
Should the PMI remain around the current level for the rest of the quarter, PMI-based estimates suggest that Vietnam’s manufacturing output will be set for further double-digit year-on-year growth in the third quarter of 2019, according to IHS Markit.
Vietnam Manufacturing Purchasing Managers’ Index (PMI) in September shows the first reduction in output prices in 13 months, slower rises in output, new orders and employment but business confidence rebounded from August’s low.
Although Vietnamese manufacturing sector continued to grow solidly during August, confidence dropped sharply and was the lowest since the series of PMI began in April 2012.
Vietnam Manufacturing Purchasing Managers’ Index (PMI) in July indicated a slight ease of output, new orders and job creation rate but still business confidence seen picked up.
The increase of Vietnam Manufacturing Purchasing Managers’ Index (PMI) signaled a marked monthly improvement in the health of the sector and one that was second only to the series record seen in March 2011.
Business conditions continued to improve at a solid pace in the Vietnamese manufacturing sector during February.
The Vietnamese manufacturing sector has made a strong start to 2018, registering sharper increases in output, new orders and employment and this all contributed to the most marked improvement in operating conditions since April 2017.
The Vietnamese manufacturing sector experienced a positive end to 2017, with December seeing a return to growth of output amid a solid expansion of new orders.
The Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, a composite single-figure indicator of manufacturing performance, fell to 51.4 in November from October's 51.6.
“Growth will need to rebound from October's slowdown over the rest of 2017 to help meet the GDP target of 6.7 per cent growth,” said Andrew Harker, associate director at IHS Markit.
Vietnam's manufaturing PMI increased to 53.3 in September, up from 51.8 in August.
