S&P Global’s Purchasing Managers Index or PMI has found that Vietnam’s manufacturing sector grew in April but only slightly, per a press release from the firm. The key manufacturing index registered 50.3 up from 49.9 in March.
The survey also found that:
- The jump in the index was fueled by a rebound in new orders;
- The new orders were fueled by reduced selling prices in response to requests for discounts from buyers;
- Oil and shipping prices pushed up input prices; and
- Firms downsized their workforce in response to lower demand.