HSBC Vietnam’s
September survey of Vietnamese manufacturers indicates that the
Purchasing Managers’ Index (PMI) rose back above the 50.0 no-change
mark during September to record 51.5. That was an improvement on
August’s 49.4 and the best reading since April 2011, the first month for
which survey data are available.
Driving the
PMI, a composite indicator designed to provide a single-figure
snapshot of operating conditions in the manufacturing economy, higher in
September were survey record rises in new business and employment.
Growth of new business was solid, reflective of an improvement in
underlying demand from domestic and foreign clients. Better product
quality and competitive pricing also helped support sales growth.
New export business also rose at a series record pace. September was
the first time in four months that an increase in new export sales had
been registered.
Encouraged by higher sales,
payrolls in Vietnam’s manufacturing sector continued to expand.
Marked growth was the second in successive months as companies sought to
keep on top of their workloads.
This momentum is
expected to rise further until the year’s end thanks to the possible
recovery in markets of the Euro Zone, China, the US and Japan.-VNA