Vietnam manufacturing PMI hits high
The Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) rose to a 22-month high of 54.6 in March from 54.2 in February.
According to a Nikkei’s report released on April 3, the Vietnamese manufacturing sector ended the first quarter of the year on a positive note. The strengthening of business conditions was the most marked since May 2015.
In addition, Vietnam’s reading remained the highest among ASEAN countries, the report wrote.
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According to IHS Markit, which compiled the survey, improving client demand led to another sharp rise in new orders during March. The rate of growth in new export orders accelerated and was the fastest this year, so far.
"Particularly pleasing in the latest month was a near-record increase in employment as companies maintained optimism that workload will continue to expand in the near term at least," Andrew Harker at IHS Markit said.
"The manufacturing industry therefore looks set to continue to be a key driver of GDP growth in the first quarter and hopefully throughout 2017, for which HIS Markit forecasts a rise of 6.4%," he added
