Typhoon Yagi caused a marked reduction in Vietnam’s manufacturing production in September, ending a five-month sequence of expansion, said SandP Global Market Intelligence in its report released on Tuesday.
The SandP Global Vietnam Manufacturing Purchasing Managers’ Index dropped to 47.3 in September from 52.4 in August and pointed to the most marked worsening in the health of the sector since November last year, said the report.
The index signaled a renewed deterioration in business conditions at the end of the third quarter of the year following a spell of solid growth.
Andrew Harker, economics director at SandP Global Market Intelligence, said typhoon Yagi brought an end to a period of strong growth in the sector.
“The underlying demand picture should remain conducive to growth, however, meaning that we could see a quick rebound in the sector as the recovery from the storm begins,” he said.
Source: The Namibia News Agency