Vietnam’s PMI slows down in July

Vietnam’s Manufacturing Purchasing Managers’ Index slowed to 51.7 in July from 52.5 in June, according to global financial information service provider Markit Economics on Tuesday. In Southeast Asia, Vietnam’s PMI ranked second, after the Philippines whose index stood at 52.8 in July. Output and new orders increased at slower rates with production rising at its weakest in nine months. Job creation continued to rise steadily for the 17 th consecutive month and delivery times lengthened due to stock shortages. Manufacturing PMI measures the performance of the manufacturing sector and is derived from a survey of 400 manufacturing companies. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.