Vietnam manufacturing growth quickens to 11-month high: Markit PMI

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Vietnam manufacturing growth quickens to 11-month high: Markit PMI

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Vietnam's manufacturing activity signaled further solid improvement in June, survey data from Markit Economics showed Friday.
The seasonally adjusted purchasing managers' index, or PMI, dropped marginally to 52.6 in June from 52.7 in May. However, any reading above 50 indicates expansion in the sector.
Both output and new orders continued to rise strongly in June. Higher output requirements led manufacturers to increase their employment. The rate job creation picked up from May.
"Output growth continuing to accelerate on the back of solid expansions in new orders from both home and abroad," Andrew Harker at Markit commented.
"Helping firms to secure new business was competitive pricing, in turn facilitated by a moderation of cost inflation in the sector,” he added
Meanwhile, the rate of cost inflation eased to the weakest level in four months. Output prices decreased for the first time in three months, albeit only slightly. 

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