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Vietnam's retail sales, service revenue up in first 11 months, PMI down in November

Copyfrom:Xinhua News agencyPost Time:2022-12-02 10:44:53

HANOI, Dec. 1 (Xinhua) -- Vietnam's total goods retail sales and consumer service revenues increased 20.5 percent year on year from January to November to over 5,180.5 trillion Vietnamese dong (218.9 billion U.S. dollars), according to the country's General Statistics Office on Thursday.

Specifically, Vietnam's goods retail sales stood at nearly 4,079.4 trillion Vietnamese dong (172.4 billion dollars), up 14.8 percent, with the sales of cultural and educational products increasing 22.9 percent, and those of clothing growing 17.6 percent.

In the 11-month period, restaurant and accommodation revenues totaled more than 536.3 trillion Vietnamese dong (roughly 22.7 billion dollars), surging 56.5 percent, and tourism revenues stood at over 22.9 trillion Vietnamese dong (968 million dollars), increasing four times compared to the same period last year, according to the office.

In 2021, Vietnam's total goods retail sales and consumer service revenues decreased 3.8 percent from the previous year to over 4,789 trillion Vietnamese dong (202.3 billion dollars).

Specifically, its goods retail sales increased 0.2 percent to nearly 3,951 trillion Vietnamese dong (166.9 billion dollars).

As for the country's manufacturing sector, a report released on Thursday by S&P Global Market Intelligence said deteriorating global economic conditions pushed the Vietnamese manufacturing sector into decline during November with reduced output, new orders, employment and purchasing activity.

The S&P Global Vietnam Manufacturing Purchasing Managers' Index posted below the 50.0 no-change mark during November, ending a 13-month sequence of expansion, said the report.

It dropped to 47.4 in November from 50.6 in October, signaling a solid deterioration in business conditions during the month, according to the report.

Manufacturing new orders decreased for the first time in 14 months midway through the final quarter of the year. The impact of unfavorable exchange rate movements on prices and the Russia-Ukraine conflict contributed to export fall, it said.  ■

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