PMI surges at sharpest pace since June

13:48 | 01/12/2014

VGP – Purchasing Managers’ Index (PMI) in Viet Nam rose to 52.1 point in November, from 51.0 point in October, signalling the most marked improvement in business conditions in five months, according to a HSBC-Markit survey.

 

Stronger operating conditions have been recorded in each month since September 2013.

Manufacturing production in Viet Nam increased for the fourteenth successive month in November, with the rate of growth quickening to the fastest since April.

The rate of job creation remained solid as firms reported having raise employment in response to increases in new orders and production requirements.

Commenting on the Viet Nam PMI survey, an Asia Economist at HSBC said:“The sharp rise of the PMI index in November reflects our view that Viet Nam manufacturing sector is competitive.”

Thanks to lower labour costs than China, Viet Nam manufacturing is gaining global market share. The contraction of input prices mirrors the drop of headline CPI to 2.6% y-o-y in November.

HSBC expects output to continue to rise, in contrast to the rest of the region./.

By Khanh Phuong