Vietnam's new orders are still down, but the smallest decline in the past 5 months, according to S&P Global Market.
S&P Global Market said that the purchasing managers index (PMI) of Vietnam in July increased 2.5 points compared to June, reaching 48.7 points. Although still in the area below 50 (the threshold used to confirm that the manufacturing industry expands if the index is above 50 and narrows if it is below 50), this decline is considered to be the lightest in recent months.
"There are signs that demand could be stable as new orders decline at the slowest rate in five months. Companies hope this could lead to a rebound in orders over the coming months." Andrew Harker, Chief Economist at S&P Global Markets, said. Business confidence also increased this month, reaching a 4-month high.
Data released by the General Statistics Office showed that, in July, the index of industrial production (IIP) got better with an increase of 3.9% over the previous month and 3.7% over the same period. period last year. However, in the face of many difficulties in the domestic and foreign economic situation in the first months of the year, in general, in 7 months, IIP decreased by 0.7% compared to the same period last year.
The data also shows that the IIP index in 7 months compared to the same period last year increased in 49 localities and decreased in 14 localities across the country. Bac Ninh is still in the group of the strongest decline.
Some localities with IIP index achieved a relatively high increase due to the processing and manufacturing industries; electricity generation and distribution industry increased. On the other hand, some localities had a decrease in the IIP index due to the weakening of these industries.
According to Vnexpress.