Vietnam’s Manufacturing Purchasing Managers’ Index in July stood at 48.5 points, a slight increase from June’s 46.4 points.
However, at under the 50-point threshold, the figure still shows production continues to fall.
The index, announced by Vietnam Hong Kong and Shanghai Banking Corporation (HSBC), is based on monthly collected data from 400 purchasing managers of Vietnam ’s manufacturing businesses.
Output and new orders still saw decreases, but not as strong as before, while employment remained unchanged.
The profit margin continued to be under pressure when price dropped further while input costs rose more strongly.
The decrease in production was attributed to the plummeting new orders from Chinese market, said an economist of HSBC Vietnam.
The situation is hoped to improve in Quarter IV when demand from markets of the US, Japan, Euro Zone and China might see recovery, she added.-VNA
However, at under the 50-point threshold, the figure still shows production continues to fall.
The index, announced by Vietnam Hong Kong and Shanghai Banking Corporation (HSBC), is based on monthly collected data from 400 purchasing managers of Vietnam ’s manufacturing businesses.
Output and new orders still saw decreases, but not as strong as before, while employment remained unchanged.
The profit margin continued to be under pressure when price dropped further while input costs rose more strongly.
The decrease in production was attributed to the plummeting new orders from Chinese market, said an economist of HSBC Vietnam.
The situation is hoped to improve in Quarter IV when demand from markets of the US, Japan, Euro Zone and China might see recovery, she added.-VNA
