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Financial News: Vietnam Manufacturing Sector Falls Into Contraction - S&P

Vietnam Manufacturing Sector Falls Into Contraction - S&P Global

09/30/2024 - 20:54:00 (RTTNews)

(RTTNews) - The manufacturing sector in Vietnam tumbled into contraction territory in September, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 47.3.

That's down from 52.4 in August and it falls beneath the boom-or-bust line of 50 that separates expansion from contraction.

Typhoon Yagi had a major impact on the Vietnamese manufacturing sector during September, with heavy rain and flooding leading to temporary business closures and delays across production lines and supply chains. As a result, output, new orders, purchasing and stocks of inputs all declined.

The disruption is set to be temporary, however, and firms remained confident in the outlook for production, raising employment accordingly. Meanwhile, cost pressures remained relatively muted and output prices increased at only a marginal pace.

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