Vietnam Manufacturing Sector Sinks Into Contraction - S&P Global

(RTTNews) - The manufacturing sector in Vietnam slipped into contraction territory in March, the latest survey from S&P Global revealed on Monday with a manufacturing PMI core of 47.7.

That's down from 51.2 in February, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.

According to firms, the pause in growth seen in March was generally reflective of a relatively subdued demand picture. Both total new business and new export orders fell accordingly. The drop in overall new orders was the fourth in the past five months, while new business from abroad dipped for the first time in three months.

In turn, backlogs of work decreased at the fastest pace since last November. Matching the picture for new orders, manufacturing production also dropped in March following a rise in February.