Vietnam PMI falls to 45.6 in April amid US tariff impact
Vietnam’s manufacturing sector contracted sharply in April 2025 as new US tariffs drove steep declines in output, orders, exports, and jobs. The PMI fell to 45.6, the lowest since May 2023. Business confidence hit a 44-month low, while employment and purchasing fell. Despite rising input costs, firms cut prices for a fourth month, signalling continued pressure ahead.
Vietnam’s manufacturing sector contracted sharply in April 2025 as new US tariffs drove steep declines in output, orders, exports, and jobs.
The PMI fell to 45.6, the lowest since May 2023.
Business confidence hit a 44-month low, while employment and purchasing fell.
Despite rising input costs, firms cut prices for a fourth month, signalling continued pressure ahead.
