-- Vietnam's manufacturing sector was pressured by declining orders and rising costs in April, reported S&P Global on Monday.
The Vietnam manufacturing purchasing managers index (PMI) dropped to a seven-month low of 50.5 in April, down from 51.2 in March, though still marginally pointing at sector health, said S&P Global, citing its monthly survey.
Vietnam factory managers reported that "new orders decreased for the first time in eight months" while manufacturers cut payrolls and hours, said S&P Global.
Factor managers reported backlogs of work fell for the fourth time in five months during April, and that they they cut purchasing and inventory holdings in the month, advised S&P Global.
Not surprisingly, Vietnamese factory managers were less optimistic in April.
"Concerns around the impacts of the war in the Middle East led to a further waning of optimism among Vietnamese manufacturers. Sentiment dipped to a seven-month low and was weaker than the series average," explained S&P Global.
Vietnam's factory output "seems likely" to decline in coming months "unless the price and supply environments improve soon," said S&P Global.
The Vietnam manufacturing PMI was compiled by S&P Global from survey sent to 400 manufacturers from April 9 through April 22.