Cimigo market research has collected the Vietnam PMI – manufacturing purchasing managers index since 2013. IHS Markit compiles the Vietnam PMI from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers.

The coronavirus disease 2019 (COVID-19) had a strong negative effect on the Vietnamese manufacturing sector during March. Business conditions deteriorated to the greatest extent since the survey began in March 2011 amid record falls in output, new orders and employment.

Firms also scaled back purchasing activity and inventory holdings, while severe disruption to supply chains was reported. Meanwhile, business confidence also hit a new low. The Vietnam Manufacturing Purchasing Managers’ Index™ (PMI®) fell sharply to 41.9 in March from 49.0 in February.

The latest data signaled a steep decline in the health of the manufacturing sector, and one that was the most marked in more than nine years of data collection so far. The deterioration surpassed the previous record seen in July 2012.

March 2020 Vietnam PMI drops to a record low

Cimigo market research has collected the Vietnam PMI – manufacturing purchasing managers index since 2013. IHS Markit compiles the Vietnam PMI from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers.

The coronavirus disease 2019 (COVID-19) had a strong negative effect on the Vietnamese manufacturing sector during March. Business conditions deteriorated to the greatest extent since the survey began in March 2011 amid record falls in output, new orders and employment.

Firms also scaled back purchasing activity and inventory holdings, while severe disruption to supply chains was reported. Meanwhile, business confidence also hit a new low. The Vietnam Manufacturing Purchasing Managers’ Index™ (PMI®) fell sharply to 41.9 in March from 49.0 in February.

The latest data signaled a steep decline in the health of the manufacturing sector, and one that was the most marked in more than nine years of data collection so far. The deterioration surpassed the previous record seen in July 2012.
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This report was provided by Cimigo. For more information on Cimigo, visit their website at: https://www.cimigo.com/en/

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