Gradual improvement in the purchasing managing indices (PMIs) across Southeast Asia shows some return to normalisation, but a sustained recovery is still far away, according to a report released by Barclays Research on August 3.
The Vietnam Manufacturing Purchasing Managers' Index (PMI) fell to 45.7 in August from 47.6 in July as the effects of COVID-19 led to a deterioration of business conditions in the country’s manufacturing sector, the latest survey by IHS Markit released this week showed.
Prime Minister Nguyen Xuan Phuc has highlighted bright spots in the country’s socio-economic development in September and the third quarter at the monthly government meeting in Hanoi on October 2.
Manufacturing sector returned to growth in September as concerns around the outbreak of the COVID-19 pandemic in the country eased. Both output and new orders increased, while business confidence strengthened, and the rate of job cuts softened.