Vietnam: Manufacturing PMI improves in November
December 1, 2014
The HSBC manufacturing Purchasing Managers’ Index (PMI) rose from 51 in October to 52.1 in November, thus reaching the highest level in five months. The index remains in expansionary territory, where it has been for the last 13 months.
November’s result reflects that the economy is gradually recovering. Manufacturers’ purchasing activity rose for the fifth consecutive month and new orders improved over the previous month. HSBC added that, “[t]hanks to lower labour costs than China, Vietnam manufacturing is gaining global market share. […] We expect output to continue to rise, in contrast to the rest of the region.”
Author: Dirina Mançellari, Senior Economist