The manufacturing sector in Vietnam continued to contract in November, and at a faster pace, the latest survey from S&P Global revealed on Friday with a manufacturing PMI score of 47.3.
That's down from 49.6 in October and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.
Manufacturers faced a renewed reduction in new orders during November, thereby ending a three-month sequence of growth. The pace of decline was solid and the most marked since May. Weaker customer demand was reportedly behind the fall in new business.
Waning demand extended to international customers as new export business decreased for the first time in four months. Some panelists reported that clients had been reluctant to pay increased prices for products.
