Southeast Asian economies shrank amid pandemic

The economies of Southeast Asian nations, including Vietnam and Thailand, shrank in the July-September period amid a surge in coronavirus cases.

Data from major economies in Southeast Asia showed that Vietnam's economy contracted 6.1 percent in the quarter, compared with the same period a year earlier.

Consumer spending plunged in Vietnam after the government responded to a spike in coronavirus cases by imposing restrictions on economic activities. The country's exports were affected by the closure of factories.

The economies of Malaysia and Thailand shrank 4.5 and 0.3 percent, respectively, marking their first contraction in two quarters.

Economic growth in Indonesia -- the largest economy in the region -- fell to 3.5 percent, a sharp decrease from the previous quarter.

The stagnant economic situation in the region is one of the factors leading to disruptions in global supply chains.