Economy

Vietnamese manufacturing PMI moderates in July

Vietnamese manufacturing PMI moderates in July

July's final manufacturing PMI for the eurozone was 56.6, down from the 74-month high of 57.4 recorded in June.

Raw material inventories eased just slightly in July, according to the survey, while imports were nearly steady and suggested stable domestic demand.

Malaysia's manufacturing sector's deterioration of operation conditions in July was worse than the average for the first half of 2017, according to the latest Nikkei Purchasing Managers' Index (PMI) released today. Companies' data should enforce confident in general expectations and to keep the economy on the right track towards stronger growth, while the key monthly decline would lead to uncertainty again.

A PMI figure above 50 represents growth while anything below points to contraction.

New export business increased at the second-strongest rate in the history of the survey, beaten only by the reading in April 2010.

The latest survey adds more evidence that parts of the manufacturing sector are enjoying a healthy expansion, despite the fact that production actually proved to be a drag on growth in the second quarter of the year.

Any levels above 50 indicates an expansion, while levels below 50 denotes contraction.

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Output and new orders increased at slower rates with production rising at its weakest in nine months.

Markets will now look to the private Caixin/Markit PMI manufacturing survey for July, which focuses more on small and medium-size firms.

The French factory PMI rose marginally to 54.9 from 54.8 in June, but the score was well below the flash 55.4.

Commenting on the Malaysian Manufacturing PMI survey data, Paul Smith, director at IHS Markit, which compiles the survey, said the Malaysian manufacturing sector continued to struggle in the face of tepid demand, particularly from within the domestic economy, during July.

Samuel Tombs of Pantheon Macroeconomics said: "Markit's survey remains consistent with only modest growth in manufacturing output that will provide insufficient compensation for the slowdown in the consumer sectors of the economy".

"The introduction of the goods and services tax (GST) weighed heavily on the Indian manufacturing industry in July", said Pollyanna De Lima, economist at IHS Markit.


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