Vietnam: Manufacturing PMI inches up in July
August 3, 2015
The Nikkei manufacturing Purchasing Managers’ Index (PMI) inched up from 52.2 in June to 52.6 in July. The slight increase brings the indicator farther above the 50-threshold that separates expansion from contraction in business conditions.
The lower monthly figure came as growth rates for output and new orders accelerated in July, forcing firms to up their staffing levels and purchasing activity; however, export orders deteriorated in July. Nikkei added noted that the result was generally positive, stating: “the pick-up in the rates of growth of output, new orders and employment in July are a welcome sign given the slowdown in the previous month and suggest that the manufacturing sector remains on track following a strong performance in Q2.”
Author: Robert Hill, Economist