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ECONOMYINDUSTRY

Rate of Vietnam's new export orders rose at record pace in April

Updated at Wednesday, 03 May 2017, 16:44
The Hanoitimes - Vietnam’s manufacturing sector started the second quarter on a firm basement as new export orders rose at a record pace.
Latest report of Nikkei reveals 0,5 point in Purchasing Managers' Index for Vietnam, however still prove the healthy improvement in export industry.
In detail, the Nikkei –Markit Manufacturing Purchasing Managers' Index of Vietnam, or PMI, decreased to 54.1 in April in comparison to 54.6 in March - the 22-month high point.
Besides, the rate of new export orders increased at a survey-record pace, with companies surveyed reporting a sharp rise in new orders on strengthening client demand both at home and abroad.
Employment grew for a thirteenth consecutive month to meet growth in new orders, but the rate of job creation eased from the previous month.
Vietnamese manufacturers pushed up purchasing activity in April as they sought to build up inventories in anticipation of further new order growth, the survey found.
Input costs rose in April on higher demand with some companies reporting higher prices for Chinese goods, but the rate of cost inflation fell to its weakest since October.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
"A record rise in exports was the key highlight from the latest Vietnam Manufacturing PMI survey as firms once again displayed a good ability to secure new work in international markets," said Andrew Harker at IHS Markit, which compiles the survey.
"This success fed through to improvements throughout the sector, with production, employment and purchasing activity all rising solidly in April. The manufacturing sector therefore remains a star performer in Vietnam at the start of Q2," he added.
 
 
 
Tu Anh
Nikkei
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