The manufacturing sector in Vietnam continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 50.6.
That's down from 52.5 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Central to the overall growth moderation in October was a softer increase in new orders. Total new business was up only slightly, and to the least extent since the current expansionary period began in October 2021. Where new orders increased, this was linked to stronger demand, competitive pricing and the securing of new customers.
There were signs of demand waning, however, including with regards to exports which also increased at a softer pace. Manufacturers continued to expand production at the start of the final quarter of the year in response to further improvements in new orders.
