Hanoi, Nov 1 (IANS) Vietnam’s manufacturing sector in October started to recover from the effects of September’s typhoon, recording renewed increases in both output and new orders, according to an S&P Global Market Intelligence report released on Friday.
The country’s manufacturing Purchasing Managers’ Index posted 51.2 in October, up from 47.3 in September and back above the 50.0 no-change mark following the disruption caused to the sector by Typhoon Yagi in the previous month, reports Xinhua news agency, citing S&P.
Alongside the rise in total new business, Vietnam’s new export orders also increased in October, according to the report.
Andrew Harker, economics director at S&P Global Market Intelligence, said, “October data showed that the recovery from the disruption caused by Typhoon Yagi got underway during the month, with firms seeing a rise in new orders and being able to expand their production.”
“We should hopefully, therefore, see growth pick-up as more manufacturers get back up to full capacity towards the year-end,” he said.