TOKYO -- The Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, rose to the highest level since April 2017, indicating solid conditions in the manufacturing sector.
The seasonally adjusted business activity index stood at 53.4 in January, up from 52.5 in December.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
Vietnam's PMI has stayed above 50 for more than two years.
"Faster rises in output, new orders and employment were recorded amid improving demand conditions," said Andrew Harker, associate director at IHS Markit, which compiles the survey.
"With the TPP trade agreement also back on the agenda, there will be plenty of optimism that the sector will continue to grow as the year progresses," Harker says.
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