Other News Vietnam’s PMI at nine-year low The Saigon Times Wednesday, Apr 1, 2020,16:31 (GMT+7) Vietnam’s PMI at nine-year lowThe Saigon Times The factory of the Hung Long Garment and Service JSC in My Hao District, Hung Yen Province. Vietnam’s PMI dropped to a record low in March due to the Covid-19 outbreak – PHOTO: VNA HCMC – The Covid-19 outbreak had a strong negative effect on the Vietnamese manufacturing sector in March, with the Vietnam Manufacturing Purchasing Managers’ Index (PMI) dropping to a nine-year low. According to a report released by IHS Markit today, April 1, business conditions had deteriorated to the greatest extent since the survey began in March 2011 amid record falls in output, new orders and employment. Firms also scaled back purchasing activity and inventory holdings, while severe disruption to supply chains was reported. The PMI fell sharply to 41.9 in March from 49.0 in February, signaling a steep decline in the health of the manufacturing sector — the most marked decline in more than nine years of data collection so far. The deterioration surpassed the previous record seen in July 2012. The Covid-19 pandemic led to substantial declines in both new orders and production in March. Both fell at… Read full this story
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