The IHS Markit Vietnam Manufacturing PMI fell to 47.6 in July 2020 from 51.1 in June, as the COVID-19 crisis continued to impact demand and activity. Both output and new orders contracted after growing in June, amid a sharp drop in export sales and a further reduction in employment. Also, manufacturers scaled back their purchasing activity, stocks of inputs and finished goods inventories. Suppliers' delivery times lengthened for the eighth time in as many months. Difficulties receiving items from suppliers in China and issues with sea transportation were reportedly behind the latest instance of lead time lengthening. Regarding prices, input costs went up for the second straight month, though the rate of inflation remained muted. Meanwhile, output prices were reduced for the sixth month running. Looking ahead, business confidence weakened slightly, but remained positive.
Manufacturing PMI in Vietnam averaged 51.17 points from 2012 until 2020, reaching an all time high of 56.50 points in November of 2018 and a record low of 32.70 points in April of 2020. This page provides the latest reported value for - Vietnam Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Vietnam Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics
Manufacturing PMI in Vietnam is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Vietnam to stand at 51.00 in 12 months time. In the long-term, the Vietnam Manufacturing PMI is projected to trend around 50.90 points in 2021 and 50.10 points in 2022, according to our econometric models.