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Vietnamese manufacturers complete solid second quarter

By CFM , 2019-07-10 12:00:00

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The Vietnam Manufacturing Purchasing Managers’ Index (PMI) was 52.5 in June, up from 52.0 in May, completing a solid second quarter for the Vietnamese manufacturing sector, with business conditions improving amid the ongoing growth of new orders.

The higher numbers of new orders was the key factor leading to a nineteenth successive monthly rise in manufacturing production in Việt Nam. “ The second quarter of the year saw solid growth that was broadly stable across the period and an improvement on the first quarter,” said Andrew Harker, Associate Director at IHS Markit.

Although manufacturers remained optimistic output will increase over the coming year, the level of confidence dropped sharply in June and was the lowest since February. Some panellists reported concerns regarding the US-China trade situation. 

"One concern outlined by some firms was the US-China trade issues, which contributed to a moderation of export growth and weaker business confidence,” Harker said.

 

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