TOKYO - Softer rates continued for growth in the Vietnamese manufacturing sector in January, with weaker rises in output, new orders and employment, according to a survey.
The Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, fell from 53.8 in December to 51.9 in January, and kept remaining above the 50-point line separating expansion from contraction. Growth has been registered in 38 successive months.
Growth remained solid in both output and new orders, supported by improving client demand. Input costs increased marginally, leading companies to lower their output prices. Manufacturers continued to take on extra staff in response to higher new orders.
"The latest PMI data highlight that the economy can't be completely immune from the weakness seen elsewhere in the region and issues with global trade," said Andrew Harker, Associate Director at IHS Markit, which compiles the survey. "The sector is likely to remain in a softer growth phase," he added.
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