Vietnam’s manufacturing sector returned to growth during August as some signs of recovery in demand supported renewed increases in both new orders and production, local media reported on Thursday, citing S&P Global Market Intelligence.
Input costs rose for the first time in four months, while selling price inflation was signaled for the first time since March, local newspaper Vietnam News reported.
The S&P Global Vietnam manufacturing Purchasing Managers’ Index (PMI) moved back above the 50.0 no-change mark for the first time in six months during August, according to the report by S&P Global Market Intelligence.
The index rose from 48.7 in July to 50.5 in August and pointed to a marginal monthly improvement in business conditions in the sector, said the report.
Manufacturers recorded a first increase in new orders for six months, while new export business also rose following a five-month sequence of decline, the report said.