HCM CITY — The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 49.7 in September, compared to 50.5 in August, despite the second successive monthly increase in new orders. Despite the continued pick-up in demand, manufacturers signalled that new order receipts remained relatively modest, leading to a scaling back of production. Purchasing was up for the second month running in response to growth of new orders and plans to increase output in the coming months. On a positive note, firms continued to see demand pick up, with a particularly encouraging rise in new orders signalled. If the recovery in new orders loses steam, however, firms will remain reluctant to expand capacity too quickly.
