Vietnam’s PMI November 2024

According to the latest report by S&P Global Market Intelligence, the Purchasing Manager’s Index (PMI) for Vietnam’s manufacturing sector reached 50.8 in November, above the 50-point threshold that separates growth from contraction.

Total new orders rose, driven by improving demand and new customer acquisitions, but weak international demand hindered overall growth.

Output and new orders increased at a slower pace in November, while employment declined for the second consecutive month as some firms reduced staffing to cut costs, as per the S&P Global report.

Business confidence declined for the second consecutive month, however, manufacturers remained optimistic about increasing production in the coming year due to plans for new product launches, business expansion and increased new orders.

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.