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Financial News: Vietnam Manufacturing PMI Ebbs In July - S&P

Vietnam Manufacturing PMI Ebbs In July - S&P Global

07/31/2022 - 20:50:00 (RTTNews)

(RTTNews) - The manufacturing sector in Vietnam continued to expand in July, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 51.2.

That's down from 54.0 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

New orders increased for the tenth month running, but the rate of expansion eased to the weakest since April. New export business rose solidly, meanwhile, and at a faster pace than total new orders. Continued growth of new orders encouraged manufacturers to keep expanding production in July. Output rose for the fourth successive month.

That said, the rate of expansion was only marginal and the softest in the current sequence of growth amid signs of demand softening, shipping difficulties and price pressures.

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