Macro Update - Manufacturing sector shows robust recovery
  • 2020-11-06T19:21:42
  • Macroeconomics
Production continued to experience robust recovery. The overall Index of Industrial Production (IIP) continued to maintain solid growth in October, rising 5.4% YoY. The manufacturing subsector was the key driver as its IIP surged 8.3% YoY, accelerating from 4.6% growth in September. According to IHS Markit, the Vietnam Manufacturing Purchasing Manager Index (PMI) inched down to 51.8 in October from 52.2 in September. The reading has been above 50 for two consecutive months, which implies