Vietnam’s PMI July 2024

According to the latest report by S&P Global Market Intelligence, the Purchasing Manager’s Index (PMI) for Vietnam’s manufacturing sector reached 54.7 in July, unchanged from the previous month, above the 50-point threshold that separates growth from contraction.

As new orders rose, manufacturing firms increased production in July. Moreover, the rate of production expansion increased compared to June and was the second fastest on record, just behind that recorded in the initial month of data collection in March 2011, according to S&P Global.

The improvement in the PMI coincided with an 8.5 per cent year-on-year expansion of the country's industrial production index in January-July, supported by a 9.7 per cent increase in the manufacturing sector.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.