HANOI (XINHUA) – Vietnam’s manufacturing sector reported slower rises in output and new orders which were hindered by weak exports in November, according to a report released by S&P Global Market Intelligence yesterday.
The sector remained in growth territory during November, but overall business conditions improved to a lesser extent than in October, said the report.
The S&P Global Vietnam Manufacturing Purchasing Managers’ Index remained above the 50.0 no-change mark in November and signalled a second consecutive monthly improvement in business conditions following the contraction caused by Typhoon Yagi in September. At 50.8, however, the reading was down from 51.2 in October and pointed to only a modest strengthening in the health of the sector.
Some firms raised production in response to higher new orders, but others reported that demand was relatively muted, leading to the slowdown in growth.
“To some extent, the slowdown in growth reflected weakness in international demand, with exports down to the largest extent since July 2023,” said Economics Director Andrew Harker at S&P Global Market Intelligence.
