 (illustrative photo: MoIT) |
The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) rose to 51.2 in February up from last month's reading of 47.4 and breaking back into expansion territory for the first time in three months.
The PMI index measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion on a monthly basis, and a reading below implies contraction.
Andrew Harker, Economics Director at S&P Global Market Intelligence, said that improving demand conditions both domestically and internationally breathed new life into the Vietnamese manufacturing sector in February. Output, new orders, employment and purchasing all grew as business confidence strengthened on an improving demand outlook.