Businesses keep morale high despite drop in new orders
Vietnam’s Purchasing Managers Index (PMI), published by S&P Global, was still below the 50-point threshold, with 46.7 in April, down from 47.7 in March.
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Manufacturing output fell for the second month in a row at a faster pace than in March 2023 as companies struggled to attract new orders amid weak demand.
| Despite the drop in orders, manufacturing companies remain optimistic. |
| Photo : VNA/CVN |
“Trading conditions fell for the fifth time in the past six months, and the fall was the steepest since the start of the year”says S&P Global.
“In April, Vietnamese manufacturing companies struggled to find new orders. However, they are still optimistic about a rebound in production over the next year”said Andrew Harker, chief economist at S&P Global Market Intelligence
“Manufacturers have started lowering their selling prices to try to stimulate consumption, thanks to an input cost that has seen its slowest rate of growth in nearly three years”he said.
CPV/VNA/CVN
2023-05-05 07:30:38
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