However, the pandemic continued to affect operations as infection levels remained high in January, he said.
Vietnam’s manufacturing Purchasing Managers’ Index (PMI) rose to 53.7 in January from 52.5 in December, signaling a strong improvement in business conditions that was the most marked since April 2021, a- he said in a press release.
Growth momentum in Vietnam’s manufacturing sector accelerated earlier this year as the recovery from the delta wave of the COVID-19 pandemic continued, according to London-based news provider IHS Markit, which recently announced a stronger increase in production and new orders. were recorded, while employment increased for the second consecutive month.
Production and new orders grew at higher rates in the first month of the year as customer demand continued to improve. In each case, the rate of expansion was the fastest in nine months.
Total new orders were supported by further improvement in new business from overseas, with the growth rate reaching the fastest since November 2018.
Despite sharply rising production, some companies reported that high levels of COVID-19 infections had affected production volumes.
Companies were also increasingly confident about production prospects for the year ahead, although optimism hinges to some extent on containing the pandemic. About 60% of those polled expected an increase in production, with general optimism the strongest in more than three years.
A second successive rise in employment was recorded in January, as companies continued to rebuild their workforces after the Delta wave of the pandemic in 2021.
The job creation rate increased from that seen in December, but remained only modest as some staff were off work with COVID and others had yet to return from their hometowns. . The increase in employment has allowed manufacturers to rein in workloads despite stronger growth in new orders, IHS Markit added.
Fibre2Fashion (DS) News Desk