Vietnam's new export orders in manufacturing fall sharply in June

HANOI, July 2 (Xinhua) -- Vietnam's manufacturing sector in June experienced the sharpest fall in new export orders for over two years, according to a report released by S&P Global Market Intelligence on Tuesday.

The S&P Global Vietnam Manufacturing Purchasing Managers' Index dropped to 48.9 in June from 49.8 in May, staying below the 50.0 no-change mark for the third consecutive month.

This signalled a modest deterioration in business conditions as the first half of the year drew to a close, said the report.

Andrew Harker, economics director at S&P Global Market Intelligence, said June saw a worsening of international demand for Vietnamese manufacturers as the impact of tariffs intensified.

"The steep drop in exports contributed to a further reduction in total new orders and led firms to scale back employment and purchasing," he said.■