12:26 | 08/07/2018 Industry
Manufacturing activity in Vietnam improved to one of the largest extents since surveys began in March 2011, as reported by an analysis of Vietnam's manufacturing situation of Japan's Nikkei Asian Review on July 2.
Accordingly, the Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, rose to 55.7 in June from 53.9 in May. A reading above 50 signals an improvement, while one below 50 points to a contraction in manufacturing activity.
Output and new orders were accelerated amid general improvements in client demand. This led to a record rise in employment and purchasing activity. A record increase in staffing levels was also seen as a result.
“The Vietnamese manufacturing sector appears to be motoring midway through 2018,” commented Andrew Harker, Associate Director at IHS Markit which compiles the survey.
The current growth phase has been extremely positive for Vietnamese workers, with firms taking on extra staff at a record pace during June, he added.