Vietnam PMI April 2017


Vietnam: Manufacturing PMI inches down in April

May 3, 2017

The Nikkei manufacturing Purchasing Managers’ Index (PMI) climbed down from 54.6 points in March to 54.1 points in April. Nonetheless, the indicator is still well above the 50-point threshold that separates expansion from contraction in the manufacturing sector, where it has stayed almost uninterruptedly for the last three years.

The slight moderation in the PMI seen in April was mainly driven by relatively-subdued inflationary pressures, while the rest of the sub-components continued to perform remarkably well. As demand for input goods stayed strong, suppliers continued to hike their prices. However, input costs increased at the slowest pace in six months, and manufacturers also increased their sales prices more mildly. Apart from price developments, the situation in the Vietnamese manufacturing sector remains very upbeat, as Andrew Harker, economist at IHS Markit, commented:

“A record rise in exports was the key highlight from the latest Vietnam Manufacturing PMI survey as firms once again displayed a good ability to secure new work in international markets. This success fed through to improvements throughout the sector, with production, employment and purchasing activity all rising solidly in April.”

FocusEconomics Consensus Forecast panelists see investment rising 8.3% in 2017, which is unchanged from last month’s forecast. For 2018, the panel expects investment to grow 8.0%.

Author: Marlène Rump, Senior Data Analyst

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Vietnam PMI Chart

Vietnam PMI April 2017

Note: Nikkei Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 point to a contraction.
Source: Nikkei and IHS Markit

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