Vietnam: Manufacturing PMI moderates in June
July 1, 2015
The HSBC manufacturing Purchasing Managers’ Index (PMI) fell from 54.8 in May to 52.2 in June, easing the indicator from May’s all-time high to a three-month low. Despite the decrease, the index is still 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 fell in June, reflecting the lowest rates since March in both cases. Input prices rose and firms continued to lower their output prices. HSBC added that, “while the Vietnamese PMI data for June are generally positive, there was a distinct slowdown in growth from the strong rates seen in April and May. A particular worry was a drop in new export orders as companies reported weaker demand from international clients.”
Author: Robert Hill, Economist