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Financial News: Vietnam Manufacturing Sector Slows In January - Markit

Vietnam Manufacturing Sector Slows In January - Markit

01/31/2021 - 20:15:00 (RTTNews)

(RTTNews) - The manufacturing sector in Vietnam continued to expand in January, albeit at a slower pace, the latest survey from Markit Economics revealed on Monday with a seasonally adjusted PMI score of 51.3.

That's down from 51.7 in December although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, January saw a broadly stable picture for manufacturing production. While the rise in new orders supported increases in output at some firms, others reported that the effects of the COVID-19 pandemic continued to lead to falls in production.

Manufacturers kept their workforce numbers broadly unchanged, following a rise in December. Some firms raised employment in response to higher new orders, while others noted a reduction amid the pandemic and staff resignations. Purchasing activity was also little-changed.

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