The manufacturing sector in Vietnam continued to contract in January, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 47.4.
That's up from 46.4 in December although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
January data signaled a further marked decline in manufacturing production, albeit one that was slightly softer than seen in December. Lower new orders were often behind falling output, with some firms indicating that customers had sufficient stock holdings and so didn't need to purchase at present.
Total new orders were down for the third month running in January as demand conditions remained challenging. That said, there were some signs of improvement, particularly with regards to new export orders which rose for the first time in three months.
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