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Viet Nam's PMI rebounds after five months: S&P Global

VGP - Viet Nam’s Manufacturing Purchasing Managers' Index (PMI) recorded a return to growth in early 2024, driven by an improved economic outlook that led to an increase in new orders, S&P Global has reported.

February 15, 2024 7:54 PM GMT+7
Viet Nam's PMI rebounds after five months: S&P Global- Ảnh 1.

S&P Global's report said that in January, the country's PMI reached 50.3 points from 48.9 points in December last year. The result indicated an improvement in the health of the manufacturing sector for the first time in the last five months.

Vietnamese manufacturers also experienced a return to growth early this year as the improvement in demand helped increase both output and the number of new orders.

Gabor Fluit, Chairman of the European Chamber of Commerce in Viet Nam (EuroCham), said Viet Nam's economic recovery is heading in the right direction.

To sustain this growth momentum, Viet Nam needs to focus on innovation, building stronger trade relations with key export markets, and improving the value of exports through processing, he said.

Recent figures showed that many foreign investors are interested in the Vietnamese market, especially in activities related to shifting supply chains. This promises that foreign investment will continue to increase, and domestic private investment will also improve compared to last year, directly contributing to the overall economic demand./.