Market Commentary and Intraday News
Vietnam Manufacturing Shrinks For Seventh Month
230 days ago
(RTTNews) - Vietnam's factory sector contracted for the seventh consecutive month in October owing to weak demand and rising costs, survey data from Markit Economics revealed Thursday.
The seasonally adjusted HSBC Vietnam Manufacturing Purchasing Managers' Index fell to 48.7 from 49.2 in September. A reading below 50 suggests contraction in the sector. The latest score was better than the 19-month low seen in July.
Output and new orders fell as demand weakened in the domestic market and globally, particularly from clients in China, Japan and Taiwan. Export orders declined at the steepest rate in the survey history.
Purchase prices rose for the third month in a row, while factory gate prices fell for the sixth straight month leading to a further squeeze in manufacturers' operating margins.
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