Viet­nam’s PMI slows down in July

China Daily (Hong Kong) - - BUSINESS -

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.

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