Vietnam Manufacturing PMI in November at Seven-Year High


09:30 04/12/2018

Vietnam’s manufacturing sector expanded at its fastest pace in more than seven years thanks to strong orders and output, bucking the trend of slower growth elsewhere in the world, according to a survey.

Vietnam Manufacturing PMI in November at Seven-Year High
The headline Nikkei Vietnam Manufacturing Purchasing Managers’ Index, or PMI, rose from 53.9 in October to 56.5 in November, surging further above the 50-point line separating expansion from contraction.
The reading was the highest since early 2011, when the survey was launched.
New orders increased sharply, encouraging manufacturers to increase production. The rate of output growth quickened to the fastest since March 2011. Business sentiment was at the highest level since February 2016, signaling further growth in the sector. 
“The Vietnamese manufacturing sector continued to defy recent signs of slowing demand elsewhere in the global economy during November,” said Andrew Harker, Associate Director at IHS Markit, which compiles the survey.