Manufacturing PMI shows improvement in Vietnam’s business condition in August

HANOI, Sept. 4 (Xinhua) — The S&P Global Vietnam Manufacturing Purchasing Managers’ Index posted 52.4 in August, down from 54.7 in July but still signaling a solid monthly improvement in business conditions midway through the third quarter, according to a report released by S&P Global Market Intelligence on Wednesday.
Manufacturers remained optimistic that output will increase over the coming year, based on expectations of further improvements in customer demand and new orders, said the report.
Andrew Harker, economics director at S&P Global Market Intelligence, said the Vietnamese manufacturing sector saw a slowdown in growth of output and new orders from the particularly elevated rates seen in June and July.
Harker said, “One issue firms are facing is a drop in employment, which is making completing projects more difficult and adding to outstanding business. We will hopefully see a return to job creation in the coming months.”
According to S&P Global Market Intelligence, the Southeast Asian country’s manufacturing sector so far continues to enjoy a strong second half of the year, with plenty of work to get through in the months ahead. ■