Vietnam's manufacturing sector appears to be motoring midway through 2018 with the Nikkei Manufacturing Purchasing Managers' Index (PMI) jumping to a second highest on record of 55.7 in June from 53.9 in May since March 2011.
"Growth of output and new orders is among the fastest seen since the survey began in 2011. The current growth phase has been extremely positive for Vietnamese workers, with firms taking on extra staff at a record pace during June," Vietnamese online magazine Review of Finance on Tuesday quoted Andrew Harker, associate director at IHS Markit, a London-based global information provider, as saying.
According to the surveyor, Vietnam led Southeast Asia with the highest PMI last month, tailed by the Philippines with 52.9 and Singapore with 52.5.
A reading above 50 points indicates a monthly improvement in the health of the manufacturing sector, while a reading below 50 reflects contraction. Vietnam's PMI has stayed above 50 for almost three years.
"Growth of output and new orders is among the fastest seen since the survey began in 2011. The current growth phase has been extremely positive for Vietnamese workers, with firms taking on extra staff at a record pace during June," Vietnamese online magazine Review of Finance on Tuesday quoted Andrew Harker, associate director at IHS Markit, a London-based global information provider, as saying.
According to the surveyor, Vietnam led Southeast Asia with the highest PMI last month, tailed by the Philippines with 52.9 and Singapore with 52.5.
A reading above 50 points indicates a monthly improvement in the health of the manufacturing sector, while a reading below 50 reflects contraction. Vietnam's PMI has stayed above 50 for almost three years.
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