Vietnam’s manufacturing PMI rebounds after super typhoon
(VOVWORLD) - The Vietnamese manufacturing sector in October started to recover from the effects of September's Typhoon Yagi, recording renewed increases in both output and new orders, according to S&P Global.
 Electronics manufacturing at Chee Yuen Electronic Technology Vietnam Co., Ltd., An Duong Industrial Park, Hai Phong city. (Photo: VNA) |
The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 51.2 in October, up from 47.3 in September.
Central to the renewed strengthening of the health of the sector were returns to growth of both output and new orders as the recovery from the typhoon got underway.
Alongside the rise in total new business, new export orders also increased in October. That said, the rate of expansion was only marginal amid some reports of subdued international demand, S&P Global noted.
Andrew Harker, Economics Director at S&P Global Market Intelligence, said that October data showed that the recovery from the disruption caused by Typhoon Yagi got underway during the month, with firms seeing a rise in new orders and being able to expand their production.
Some companies are still suffering from the effects of the storm, however, limiting rates of expansion, so the market will see growth pick-up as more manufacturers get back up to full capacity towards the year end.