Việt Nam’s manufacturing sector continued to show improvement in November, with the Purchasing Managers’ Index (PMI) staying above the 50-point threshold for a second consecutive month of robust business activities.
The index signalled an end to the two-month period of improving business conditions at the start of 2024, but pointed to broadly unchanged operating conditions overall.
Sustained improvements in new orders support job creation with employment rises for the first time in four months, while business confidence jumped to one-year high.
Việt Nam''s manufacturing sector returned to growth in August as some signs of recovery in demand supported renewed increases in both new orders and production, according to the S&P Global Việt Nam Manufacturing Purchasing Managers'' Index™ (PMI).
The manufacturing sector is a driving force behind economic growth, but manufacturers are still outcompeted by foreign rivals when it comes to core technologies, according to insiders.
The Vietnam Manufacturing Purchasing Managers'' Index (PMI) ped to 51.7 in March from 54.3 in February, as the latest wave of the COVID-19 pandemic led to widespread labour shortages in the manufacturing sector during March, according to S&P Global.
Commercial banks did not grant credit to four real estate businesses that won the auction of land use rights in the Thu Thiem new urban area, according to the State Bank of Vietnam.
The manufacturing sector in October saw significant expansion for the first time in five months as firms ramped up production to meet rising export orders spurred by the COVID-19 pandemic gradually coming under control, experts said.
An improvement in the public health situation and subsequent easing of restrictions helped the Vietnamese manufacturing sector return to growth during October.
The Vietnamese manufacturing sector returned to growth in June as success in suppressing the coronavirus pandemic and greater business confidence helped lead to renewed expansions in output and new orders.