Vietnam: Manufacturing PMI inches down in May
June 2, 2014
The manufacturing Purchasing Managers’ Index (PMI) fell from 53.1 points in April to 52.5 points in May. The figure represents the lowest level since March. That said, the index has been above the 50-point threshold for the last nine months, which indicates expansion in the manufacturing sector.
May’s figure reflected that the rate of job creations in the manufacturing sector slowed compared to the previous month. New orders tallied a strong rate of growth for the sixth consecutive month, which was only slightly weaker than April’s reading. In addition, the recent changes in transportation rules extended suppliers’ delivery time to the highest on record and raised the cost of shipping. However, manufacturing output rose for the eighth consecutive month in May.
Author: Dirina Mançellari, Senior Economist