Vietnam PMI hits 9-month record high in January

The Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) in the first month of this year rose to the highest level since April 2017, indicating solid conditions in the manufacturing sector. — Photo cafef.vn The Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) in the first month of this year rose to the highest level since April 2017, indicating solid conditions in the manufacturing sector. The seasonally adjusted business activity index stood at 53.4 in January, up from 52.5 in December. A reading above 50 indicates economic expansion, while a reading below 50 points indicates contraction. Vietnam’s PMI has stayed above 50 for more than two years now. According to IHS Markit, which compiles the survey, the Vietnamese manufacturing sector made a strong start to 2018, registering sharp increases in output, new orders and employment. “The latest strengthening of business conditions was the 26th in successive survey periods and the most marked in nine months,” IHS Markit reported. New orders continued to rise at the start of the year amidst improving client demand. Moreover, the rate of expansion accelerated to a four-month high. Positive demand conditions were also highlighted in export markets, supporting a further solid increase in new businesses from abroad. New growing business supported a second successive monthly expansion of manufacturing output. The rise was solid and the fastest since last September. According to the report, firms made further efforts to expand their operating capacity in January, taking on extra staff at a sharp pace. In fact, the rate of… [Read full story]

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