Vietnam: Manufacturing PMI picks up in September
October 1, 2014
The HSBC manufacturing Purchasing Managers’ Index (PMI) inched up from 50.3 in August to 51.7 in September. As a result, the index is further above the 50-threshold, where it has been for the last 12 months.
September’s improvement came on the back of a pickup in external demand. The improvement in operating conditions was also helped by an increase in new orders. In addition, a rise in employment was recorded in September, which followed no change in the previous month. HSBC added that it, “expect[s] the manufacturing sector to perform well into Q4 2014 as the country is competitive in terms of labour, electricity and water costs.”
Author: Dirina Mançellari, Senior Economist