Vietnam's manufacturing sector slips into contraction in April as new orders fall sharply amid tariff imposed by the US, S&P Global said in a report Monday.
The S&P Global Vietnam Manufacturing Purchasing Managers' Index dropped to 45.6 in April from 50.5 in the prior month, slipping into contraction as readings above 50 indicate expansion, while below 50 readings signal contraction.
During the month, production and new orders plunged, while firms scaled back employment again for the seventh straight month. Purchasing activity also decreased sharply.
On the price front, input cost rose slightly, while output prices fell, S&P said.
Looking ahead, the Vietnamese business sentiment was the lowest since August 2021.
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