Vietnam Manufacturing PMI “Manufacturing and Purchasing Manager Business Index” continues to grow

Vietnam's Manufacturing PMI 'Manufacturing Purchasing Managers Index' Continues Growth in May 2019

Vietnam's manufacturing sector improved further in May, aided by a surge in production and new orders.

Vietnam PMI (Purchasing Manager's Index) fell slightly to 52.0 in May from 52.5 in April. Numbers above 50 indicate expansion and numbers below 50 indicate contraction.

Consumer demand improved and new orders from domestic and foreign customers increased.
Business confidence has reached a six-month high.

Falling PMI 'Manufacturing Purchasing Managers Index' Decreases Employment

IHS Markit Associate Director Andrew Harker said:

“There appears to be a labor supply problem. Resignations and retirements are leading to lower employment levels despite improving demand and output.”

"Although the PMI has declined, it could head up in the coming months if demand remains strong and companies hire new people to replace retirees," Harker said.

Asian Development Bank ADB predicts Vietnam's economic growth rate (2019) to be 6.8%

The PMI showed a slight decline in May, but the index is above 50, indicating a booming economy. In fact, the Asian Development Bank's ADB forecast for GDP growth in 2019 is 6.8%, one of the highest levels in Asia.

Asian Development Bank ADB predicts Vietnam's economic growth rate (2019) to be 6.8%

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