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Financial News: Vietnam Manufacturing PMI Climbs To 52,1 In October

Vietnam Manufacturing PMI Climbs To 52,1 In October - Markit

10/31/2021 - 20:40:00 (RTTNews)

(RTTNews) - The manufacturing sector in Vietnam swung to expansion in October, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 52.1.

That's up sharply from 40.2 in September and it moves above the boom-or-bust lien of 50 that separates expansion from contraction.

A loosening of COVID-19 restrictions led a number of firms to restart production in October, while others expanded output in response to higher new orders. As a result, production growth was recorded for the first time in five months.

A solid return to growth of new orders was also registered as manufacturers and their customers alike resumed operations. The improvement in the pandemic situation enabled firms to take advantage of increased demand in international markets, posting a first rise in new export orders since May.

Business confidence improved markedly in October as the latest wave of the COVID-19 pandemic showed signs of easing. Hopes that the pandemic will remain under control helped optimism reach a 29-month high.

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