Vietnamese manufacturing growth slowed to its lowest level in 10 months in September but business confidence pointed to a rebound in the coming months, according to an industry gauge.
The latest Nikkei-Markit Vietnam manufacturing purchasing managers’ index fell to 51.5 last month, from 53.7 in September, although still above of the 50-point mark separating expansion from contraction.
The headline PMI reading, while marking the thirty-fourth straight month of growth, reflected slower rises in output, new orders and employment.
However, business confidence rebounded from the record low recorded in August amid rising fears over the fallout from the US-China trade war.
“Company plans and expected growth of new orders supported optimism that output will increase over the coming year,” according to IHS Markit, which compiles the survey.
Still, Andrew Harker, associate director at IHS Markit, said that “while remaining positive overall, demand conditions are clearly less buoyant than they were during Q2”.
Edward White reports on FT.