Vietnam PMI index plunges to record low level in April
Record falls were seen in output, new orders, employment and purchasing amid company shutdowns and the cancellation of orders.
Record falls were seen in output, new orders, employment and purchasing amid company shutdowns and the cancellation of orders.
Business sentiment dropped to the lowest since this series was added to the survey in April 2012 amid concerns around the effects of Covid-19.
Covid-19 has severely hampered the Vietnamese manufacturing sector in February, both on the demand and supply side.
The Vietnamese manufacturing sector looks set to be a star performer again in 2020, helping to support impressive growth in the wider economy, said Andrew Harker, associate director at IHS Markit.
New orders expanded for the forty-ninth month running at the end of 2019, linked by respondents to stronger customer demand.
The headline Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) registered 51.0 in November, up from the neutral reading of 50.0 in October.