Vietnam’s manufacturing sector is on the path of growth, according to media reports. The country’s manufacturing Purchasing Managers’ Index (PMI) as per survey by Nikkei and HIS Market was in the expansion category at 52.2 in September, from contraction at 45.7 in August. The 50-point mark separates contraction from expansion.
The country’s Index of Industrial Production (IIP) too increased by 2.3pc in September from August and by 3.8pc from the prior September. Vietnam Ministry of Industry and Trade believes the sector is prospered in the month with the COVID-19 pandemic under control.
In the Jan-Sept period, the IIP increased by 2.4pc from the prior year period, the lowest growth rate in the past few years. Sectors which lead the rise also included metal ore mining, manufacturing of electronic products. IIP, however, decreased by 11.8pc for cars among others.