Falling global trade trapped Vietnam in slowest output growth in August
Vietnam’s PMI has slumped to a six-month low in August due to slower client demand and US-China trade tensions restricting new orders and production, according to IHS Markit.
Vietnam’s PMI has slumped to a six-month low in August due to slower client demand and US-China trade tensions restricting new orders and production, according to IHS Markit.
Should the PMI remain around the current level for the rest of the quarter, PMI-based estimates suggest that Vietnam’s manufacturing output will be set for further double-digit year-on-year growth in the third quarter of 2019, according to IHS Markit.
“Growth will need to rebound from October's slowdown over the rest of 2017 to help meet the GDP target of 6.7 per cent growth,” said Andrew Harker, associate director at IHS Markit.