Vietnam’s manufacturing growth continues for May whilst Taiwan hits 11-month low

Manufacturing growth in Vietnam continued grow during May, with the Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) recording 53.9 points.

The nation’s points rose from 52.7 from the previous month, remaining above the 50 points mark that separates contraction from growth.

Last month saw Vietnam receive a sharp rise in new orders as well as hitting a record rate of expansion within new export business.

The nation also saw a rise in output and employment within the manufacturing industry, with output price inflations easing.

“A record rise in new export orders is the key highlight from the latest PMI, helping to drive growth across the sector,” commented Andrew Harker, HIS Markit’s Associate Director.

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However, Taiwan’s manufacturing growth hit an 11-month low, only reaching 53.4 PMI points in May, down from 54.8 in April.

Output and new orders are anticipated to be the cause for the drop, both growing at slower paces.

South Korea also had a disappointing month as its manufacturing growth continues to decline.

The nation saw contraction in the industry, with 48.9 points in the review period, up from 48.4 in April.

China reported its points unchanged last month, once again recording at 51.1, according to the Caixin-Markit PMI.