Vietnam Pmi

The strong growth in Vietnam's manufacturing sector in June continued in July, with a substantial rise in new orders driving production to a near-record high.

New orders rose to an extent only exceeded during the opening month of data collection for the survey in March 2011.

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Continued expansions in output and employment alongside muted price and supply pressures may help the sector remain in growth territory as the end of the year approaches.

Hopes for improvements in market demand and new orders, alongside confidence that the Covid-19 pandemic will remain under control, supported optimism in production prospects for the coming year.

Business sentiment continues to improve with 57% of respondents predicting that output will increase over the coming 12 months, against 9% that expected a decrease.

Manufacturers remained optimistic that production will increase in the next 12 months.

The bright spot in the latest PMI survey was employment, which increased at the fastest pace in three and a half years.

Firms remained optimistic that output will rise over the coming year, based on hopes that the pandemic will fade and new orders expand.