Many firms optimistic about business in Q2

About 38.8 percent of manufacturing and processing firms believe that their business in the second would be better than in the first quarter (Photo: tapchicongthuong.vn)

Hanoi (VNS/VNA) - Many enterprises in the manufacturing and processing industry are optimistic about the outlook for the second quarter of 2020, according to a survey conducted by the General Statistics Office (GSO).

In total, 38.8 percent of surveyed firms believe their business in the second quarter would be improved from the first three months, and 35.3 percent said they expect stable business.

Meanwhile, 25.9 percent of businesses anticipate more difficulties.

The State-owned sector is the most optimistic, with 77.9 percent of them forecasting a stable or better Q2, the office said.

About 74 percent of total private and FDI firms said they expect better business in Q2, while 73.8 percent of them thought business would remain stable.

However, only 18 percent of businesses in the manufacturing and processing industry have confirmed a higher number of new export orders in Q2 than in the first quarter.

About 37.5 percent of enterprises said they are facing a fall in new export orders, while 44.6 percent said they would be on a par with the first quarter.

The GSO also reported that among the main factors affecting production and business activities in the first quarter, 55.8 percent of businesses said domestic competitiveness is the biggest factor.

In the first quarter, 42 percent of the manufacturing and processing industry experienced difficulties in production and business due to the novel coronavirus (COVID-19) pandemic.

Meanwhile, 37.1 percent had stable production and business performance, and only 20.9 percent improved from the last quarter of 2019./.