Vietnam’s manufacturing sector maintained modest growth in September, with the S&P Global Manufacturing Purchasing Managers’ Index (PMI) unchanged at 50.4, signalling a third consecutive month of slight improvement → view source.
The stabilisation was underpinned by a renewed rise in new orders, following a small decline in August.
Export demand remained weak but showed signs of nearing stabilisation, with the slowest pace of decline in nearly a year.
S&P noted that more certainty around US tariff policy helped some firms secure new business.
Output rose for a fifth straight month, though at the slowest pace since June, partly supported by reduced backlogs.
Purchasing activity also increased, but staffing levels continued to fall for the twelfth consecutive month as firms refrained from replacing departing workers.
Inflationary pressures strengthened.
Input costs rose at the fastest rate since July 2024, linked to higher market prices and exchange rate movements.
Output prices followed, climbing at the sharpest pace in 14 months.
See also: Manufacturing in Vietnam 2025: Growth, Options & Other Key Considerations