Vietnam's PMI has stayed above the neutral level for a fourth month in a row. (Photo: baodautu.vn)
’s Manufacturing Purchasing Managers’ Index (PMI
), which measures manufacturing performance edged up 50.7 in March from 50.3 in February, signaling a further modest monthly improvement in the sector, according to a report by Nikkei and Markit.
The latest improvement in operating conditions was supported by a faster rise in new business amid reports of stronger customer demand. New export orders also increased at a sharper pace during the month.
Both total new business and new export orders have increased continuously since the final month of 2015. Higher new orders contributed to an increase in manufacturing output, the fourth in as many months.
The report notes that input costs rose in March after decreasing in each of the previous eight months.
“The Vietnamese manufacturing sector posted a solid but unspectacular performance in March, as has been the case throughout the first quarter of the year. There were positive signs on the order front, however, as growth picked up,” said Andrew Harker at Markit, which compiles the survey.
“Meanwhile, the recent run of falling input costs came to an end, but firms are still able to benefit from a relatively weak inflationary environment to maintain their competitive position,” Harker added.