HANOI, Aug. 1 (Xinhua) -- The Vietnam Purchasing Managers' Index (PMI), which measures economic health of the country's manufacturing sector, fell to 51.7 in July from 52.5 in June, the latest survey from Nikkei revealed on Wednesday.
The result remains above the critical 50-point threshold that separates expansion from contraction, but signals a slowdown in the pace of expansion in the manufacturing sector.
Specifically, expansion in both output and new orders slowed amid accelerated export growth. Firms continued to hire more workers in July, even though the speed of job creation was relatively stable from the previous month.
Meanwhile, business sentiment rose as more than half of the surveyed respondents predicted an increase in output owing to expected higher demand and planned expansions.
Vietnam led Southeast Asia with the highest PMI last month, tailed by Singapore with 52.5 and the Philippines with 50.9, according to the survey. Vietnam's PMI has stayed above 50 for almost three years.
