S&P Global: Vietnam's PMI rebounds after five months
Vietnam’s Manufacturing Purchasing Managers' Index (PMI) recorded a return to growth in early 2024, driven by an improved economic outlook that led to an increase in new orders, S&P Global has reported.
Hanoi (VNA) – Vietnam’s Manufacturing Purchasing Managers' Index (PMI) recorded a return to growthin early 2024, driven by an improved economic outlook that led to an increasein new orders, S&P Global has reported.
S&P Global’s report said that in January, thecountry’s PMI reached 50.3 points from 48.9 points in December last year. The resultindicated an improvement in the health of the manufacturing sector for the first time in the last five months.
Vietnamese manufacturers also experienced areturn to growth early this year as the improvement in demand helped increase bothoutput and the number of new orders.
Gabor Fluit, Chairman of the European Chamber of Commerce in Vietnam (EuroCham), said Vietnam's economic recovery is heading in the rightdirection.
To sustain this growth momentum, Vietnamneeds to focus on innovation, building stronger trade relations with keyexport markets, and improving the value of exports through processing, he said.
Le Duy Binh, CEO of Economica Vietnam, was optimistic about Vietnam’s economicgrowth, noting that the global economy is showing signs of recovery,particularly in major economies that are important export markets for Vietnam'sgoods and services.
Except for the European Union (EU), othereconomies such as the US, Japan, China, Australia, and ASEAN countries areexperiencing strong recovery, indicating stable growth in demand, he said.
Binh said the sustained macroeconomicstability and other stable achievements in 2023 laid a foundation forcontinuing to maintain and boost the confidence of both domestic and foreign businesses,as well as consumers, thus increasing prospects for investment, and boosting theretail market and domestic consumption.
Recentfigures showed that many foreign investors are interested in the Vietnamesemarket, especially in activities related to shifting supply chains, Binhstressed, adding that this promises that foreign investment will continue toincrease, and domestic private investment will also improve compared to lastyear, directly contributing to the overall economic demand./.
Vietnam's manufacturing sector returned to growth in August as some signs of recovery in demand supported renewed increases in both new orders and production, according to the S&P Global Vietnam Manufacturing Purchasing Managers' Index™ (PMI).
The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 49.7 in September, compared to 50.5 in August, despite the second successive monthly increase in new orders.
The Vietnam Manufacturing Purchasing Managers' Index (PMI) as reported by S&P Global, edged down to 49.6 in October from 49.7 in the previous month, indicating a second consecutive monthly decline in the manufacturing sector.
Vietnam's Manufacturing Purchasing Managers' Index (PMI) dropped to a five-month low of 47.3 in November from 49.6 in October, according to international independent credit rating data source and index provider Standard & Poor’s Global (S&P Global).
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Illustrative image (Photo: VNA) 
