TOKYO - The Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, rose to 53.9 in May from 52.7 in April. A reading above 50 signals an improvement, while one below 50 points to a contraction in manufacturing activity.
New orders rose at a sharper rate than in April, helped by a record expansion in new export business. Growth of output and employment also picked up. Business conditions have now strengthened on a monthly basis throughout the past two and a half years.
Andrew Harker, Associate Director at IHS Markit which compiles the survey said "A record rise in new export orders is the key highlight from the latest PMI, helping to drive growth across the sector." Harker also pointed out output price inflation continued to ease as companies often favored holding down prices to help secure sales rather than passing on sharp rises in input costs.
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