HANOI, July 1 (Xinhua) -- Vietnam's purchasing managers' index (PMI), which measures economic health of the country's manufacturing sector, rose to 52.5 in June from 52.0 in May, the latest survey from Nikkei revealed on Monday.
Vietnamese manufacturers continued to record solid growth of new orders in June, with the rate of expansion reaching a six-month high. This can be attributable to the launch of new products and increased customer numbers, said the survey.
Higher new orders was the key factor leading to a nineteenth successive monthly rise in manufacturing production in Vietnam.
New order growth led to a rise in backlogs of work in June, which caused firms to recruit extra staff and brought employment back to growth from the decline seen in May. The rate of input cost inflation softened to a three-month low, thereby enabling firms to continue recent discounting of selling prices.
A PMI reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
