World Economy

Vietnam PMI Accelerates

Vietnam PMI AcceleratesVietnam PMI Accelerates

The manufacturing sector in Vietnam continued to expand in June, and at an accelerated rate, the latest survey from Nikkei revealed on Monday, with a manufacturing PMI score of 55.7 from 53.9 in May, VNA reported. According to the survey, the reading 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 have now strengthened in each of the past 31 months while manufacturing output increased at a substantial pace as the rate of growth accelerated for the third month running. “The Vietnamese manufacturing sector appears to be motoring midway through 2018, with growth of output and new orders among the fastest seen since the survey began in 2011,” Andrew Harker, associate director at IHS Markit, which compiles the survey, said. Panelists reported that higher new orders and stronger client demand had been behind the rise in output. In line with the picture for production, the rate of growth in new orders was among the steepest seen across the survey’s history so far. New orders have risen continuously since December 2015.

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