Vietnam manufacturing sector moves up a gear in October
TOKYO â" Vietnamese manufacturing industry PMI saw a surge in October amid upturn in production and new work, after ten-month low last month.
The Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, increased to 53.9 in October from 51.5 in September. A reading above 50 signals an improvement, while one below 50 points to a contraction in manufacturing activity.
New business surged at fast pace with both internal and external demand conditions. Manufacturers increased their production and employment to meet new demand for export orders. Although input costs continued to rise, the rate of inflation moderated to the weakest in 15 months.
âVietnamese manufacturers allayed fears of a protracted slowdown across the sector, with stronger rises in output, new orders and employment,â said Andrew Harker, Associate Director at IHS Markit, which compiles the survey.
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