Growth in Vietnam’s manufacturing sector hit a four-month high in April thanks to increased employment and a solid rise in new orders, according to a survey.
The Nikkei Vietnam Manufacturing Purchasing Managers’ Index, or PMI, rose from 51.9 in March to 52.5 in April, moving further above the 50-point line separating expansion from contraction. The Nikkei reports.
According to Nikkei, new orders continued to rise at a similar clip with March, as did exports. The growth led to an increase in employment, the first rise in three months, with the pace slightly faster than average.
“Firms gained confidence that the soft patch at the start of the year is now a thing of the past,” said Andrew Harker, Associate Director at IHS Markit, which complies the survey.
“There was still a reluctance to raise selling prices, however, in spite of a pick-up in the rate of cost inflation, but this will likely change should solid inflows of new work continue in coming months.”
For more information, visit IHS Markit website.