POST Online Media Lite Edition



 

Sharp rise in new orders in Vietnam amid record growth of exports

Staff Writer |
Business conditions improved solidly in the Vietnamese manufacturing sector during May.

Article continues below




Moreover, new orders rose at a sharper rate than in April, helped by a record expansion in new export business.

Growth of output and employment also picked up.

Manufacturers raised their output prices only slightly in the latest survey period, thereby helping to secure sales.

This was despite a sharp and accelerated increase in input costs.

The headline Nikkei Vietnam Manufacturing Purchasing Managers’ IndexTM (PMI) – a composite single-figure indicator of manufacturing performance – rose to 53.9 in May from 52.7 in April.

The latest reading signalled a solid improvement in the health of the sector, and the most marked since April 2017.

Business conditions have now strengthened on a monthly basis throughout the past two-and-a-half years.

As has been the case in each month since December 2015, new business increased during May.

Moreover, the rate of expansion was sharp and the fastest in 14 months.

The increase in overall new orders was supported by the strongest rise in new business from abroad since the survey began in March 2011.

With new orders increasing, firms raised output accordingly.

Production expanded at a solid pace, and one that was the fastest in three months.

Output increased across all three broad sectors, with growth strongest in investment goods.

Higher new orders also fed through to an increase in backlogs of work.

That said, the second successive rise in outstanding business was only slight.

In line with higher new orders and output requirements, manufacturers increased their staffing levels at a faster pace in May.

The rate of job creation was the sharpest since January.

The rate of growth in purchasing activity also quickened, and was the fastest since December 2016.

The rise in input buying helped lead to an increase in stocks of purchases, with panellists reportedly building inventories to support future output growth.

Stocks of finished goods also rose following a slight fall in April.

The rate of input cost inflation quickened to a threemonth high in May amid higher fuel costs and rising supplier charges.

The latest increase was stronger than the series average.

On the other hand, firms raised their own selling prices only slightly, and to the least extent in the current nine-month sequence of inflation.

Some panellists indicated that they had offered discounts in order to secure sales, limiting the upwards impact of higher input costs.

Suppliers’ delivery times continued to lengthen at a marginal pace during May, with respondents often linking delays to raw material shortages.

Alongside faster increases in output and new orders, business confidence picked up in May.

More than 52% of respondents expect a rise in production over the coming year, with confidence mainly linked to predictions of further new order growth.


What to read next

Fastest rise in employment since July 1998
Slower rise in Spain service activity
Growth in France remains elevated but pulls back slightly in February

Ryanair offers jobs to Flybe staff after airline's collapse

 
Ryanair has offered a lifeline to staff affected by the collapse of Birmingham Airport-based airline Flybe.
 
 

Latest

Iran to join Shanghai Cooperation Organization
Four dead as floods in New Zealand continue for third day
At least 2 dead, 122 injured as 5.9-magnitude earthquake strikes northwestern Iran
Iran and Kazakhstan eye increasing annual bilateral trade to $3 billion

NEWS

U.S.: Arctic front slides southward

Record rainfall overnight in Auckland causes massive flooding
Drug trafficking network in Italy and Albania taken down
Japan launches intelligence satellite to join fleet in orbit
U.S. designates former President of Panama Martinelli for involvement in significant corruption
French workers go on 48-hour strike over pension reform proposal
 

BUSINESS

Germany faces biggest teacher shortage in 50 years, association says

Electricity from renewable sources on the rise in EU
North Carolina: Construction begins on new tower at Asheville Regional Airport
Second weekly decline in active U.S. oil rigs
Australian consumer watchdog launches crackdown on misleading social media influencers
Globalisation redefined as manufacturing moves closer to home
 

Trending Now

Iran and Kazakhstan eye increasing annual bilateral trade to $3 billion

Ryanair offers jobs to Flybe staff after airline's collapse

Iran to join Shanghai Cooperation Organization

Four dead as floods in New Zealand continue for third day


POLITICS

Italian Prime Minister in Libya to conclude $8 billion gas deal

EU extends economic sanctions against Russia by six months
Iraq, France agree on energy, security cooperation
MEP from Hungary: European gas price cap would have negative effect on gas markets
EU launches €100 million Regional Teachers' Initiative for Africa
Governor announces plan to deliver economic relief to New Mexicans
 

Today We Recommend

EU launches €100 million Regional Teachers' Initiative for Africa


Highlights 

Milo's Tea Company to create 103 new jobs in Spartanburg County, South Carolina

SK Battery America to open U.S. IT center, create 200 high-tech jobs in Roswell, Georgia

Chipotle Mexican Grill to hire 15,000 workers


COMPANIES

BioMar sources Benson Hill ingredients to boost sustainability of aquafeed

Milo's Tea Company to create 103 new jobs in Spartanburg County, South Carolina
SK Battery America to open U.S. IT center, create 200 high-tech jobs in Roswell, Georgia
Chipotle Mexican Grill to hire 15,000 workers
Duke Energy begins operation of Idaho’s largest solar plant
BT Group to recruit more than 400 apprentices and graduates
 

CAREERS

Foresters Financial Canada president Henry Auyeung to retire

Dollar Bank names Peter Kubiska new chief marketing officer
Bank of South Carolina CEO Fleetwood S. Hassell to retire
Drest appoints Henri Holm as CFO
VC4A introducing Vincent Hoogduijn as CEO
Introhive appoints Lee Blakemore as CEO
 

ECONOMY

U.S. trade deficit for goods soar 8.8% to $90.3b in December

Uzbekistan's economy grows 5.7 pct in 2022
Irish consumer confidence hit seven month high in January
Bank of Canada hikes rates
Singapore’s core inflation at 5.1 pct in December, averaged 4.1 pct for 2022
EU trade with Russia declined strongly
 

EARNINGS

American Express Q4 income $1.6 billion

Chevron Q4 earnings $6.4 billion
Weyerhaeuser Q4 profit decreases
LG slips to loss in Q4
Santa Cruz County Bank Q4 income $10.0 million
American Airlines Q4 revenues up 39.9%
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

New swine fever outbreak confirmed in Gauteng, South Africa

Eurostat releases food price monitoring tool
New Zealand suffers egg supply shortage
Hong Kong suspends import of poultry meat and products from areas in Mexico and Poland
FAO and Japan to help Moldovan rural households overcome multiple crisis effects
African Development Bank to commit $10 billion to make continent world's breadbasket
 

LEADERSHIP

Product images could boost food pantry use

The madness of fast service: I want it now!
How to build a resilient brand
Only 32% of employees believe their pay is fair
Corporate duty waivers limit organic company growth and innovation
Women buy from women, men buy from women and men
 

CRIME

EAO issued third fine for Coastal GasLink project

Dutch central bank fines cryptocurrency exchange Coinbase 3.3 mln euros
Bloomberg to pay $5 million for misleading disclosures about its valuation methodologies for fixed income securities
Italy fines Yoox with over 5 million euro for misleading prices and limitations of right of withdrawal
Nexo agrees to pay $45 million in penalties and cease unregistered offering of crypto asset lending product
Virgin Atlantic fined for operating flights in prohibited airspace
 

Magazine

TRAVEL

IntercityHotel Berlin Airport BER opens

Art After School, the perfect way to spark imagination in your child
The world's biggest food fair in Berlin you don't wanna miss
Largest antiques show comes to small Texas town
Meet and see great artists from across the United States
Address Grand Creek Harbour opens its doors to guests
 

SEA, LAND, AIR

Honda Pilot TrailSport, fully equipped SUV with great ground clearance

2024 Corvette E-ray, electrified 4WD
Jaguar I-PACE is now more distinctive
2023 Toyota Prius expected this January
2023 Lincoln Corsair, advance features and ActiveGlide
Lamborghini Huracán Sterrato, first super sports car for any terrain
 

DESIGN

Curved sofas, elegant and gentle

Solios watches, from nature to luxury
Coats of faux fur, but not of faux style
Redifining kitchen space and experience with workstations
Dinning sofas, a soft addition to a modern dinning table
Patchwork carpets, vintage Persian carpets made with unparalleled skill
 

GADGETS

Harman Luxury Audio introduces new JBL Classic Series

KEF KC62, audio excellence and design ingenuity
Panasonic announces flagship OLED TV MZ2000
McIntosh MC451, 150 Watt vacuum tube and 300 Watt solid state amplifier
Headonia 2A3, luxury headphone amplifier that comes with gloves
ASUS launches ExpertBook B9 for executives
 

HEALTH

Ipsen receives CHMP negative opinion for Palovarotene as treatment for fibrodysplasia ossificans progressiva in EU

Once-daily Sotyktu gets positive opinion as treatment for adults with moderate-to-severe plaque psoriasis
EMA update on shortages of antibiotics in EU
Researchers develop new urine test that can diagnose cancer
India launches 'world's first' intranasal COVID-19 vaccine
Quibim and European Commission to launch EUCAIM, federated infrastructure for cancer images data in Europe
 

MEANTIME

NASA system predicts small asteroid to pass close by Earth this week

NASA, Pentagon developing nuclear-powered rocket for Mars
Milky Way found to be too big
Earth's inner core rotation paused
Airbus-built JUICE spacecraft set for lift-off to study Jupiter’s icy moons
Ripples in fabric of universe may reveal start of time