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Financial News: Vietnam Manufacturing Sector Accelerates In June - S&P

Vietnam Manufacturing Sector Accelerates In June - S&P Global

06/30/2024 - 20:48:00 (RTTNews)

(RTTNews) - The manufacturing sector in Vietnam continued to expand in June, and at a faster pace, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 54.7.

That's up from 50.3 in May, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The much greater strengthening of business conditions reflected substantial increases in both output and new orders at the mid-point of the year. In particular, new orders rose to an extent only exceeded during the opening month of data collection for the survey in March 2011.

An improvement in demand was reported, with some customers coming back to request additional orders during the month. In some cases, competitive pricing helped firms to secure new business. New export orders meanwhile increased at the fastest pace since February 2022, albeit at a pace that was still much softer than seen for total new business.

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