PMI maintains growth momentum for 5 consecutive months, manufacturing continues to improve

On the morning of December 1, 2025, S&P Global announced the Vietnam Manufacturing Purchasing Managers' Index (PMI) for November 2025. There were three highlights: Output increased sharply as new orders increased; major storms caused delays in the supply chain and completion of production work; the number of employees increased for the second consecutive month.

*PMI in November 2025 reached 53.8 points, Vietnam's manufacturing industry grew steadily despite storms and floods. Photo: TT*

Accordingly, the PMI index in November reached 53.8 points, lower than the 54.5 points in October but still firmly above the 50-point threshold. This result shows that business conditions continue to improve and the manufacturing industry maintains its recovery momentum for the fifth consecutive month.

Output and new orders continued to rise in November, although the pace of increase slowed compared to the previous month, according to S&P Global.

Meanwhile, new export orders increased at the fastest pace in 15 months, with marked improvements in demand from mainland China and India, a sign that external demand was recovering, providing a further boost to manufacturing growth at the end of the year.

November’s stormy weather was cited as the main drag on production. Many businesses said the storms disrupted supply chains, extending delivery times to their longest since May 2022. Delays in raw material deliveries made it difficult for factories to complete orders on time and caused backlogs to continue to rise, at the fastest pace since March 2022.

Despite the challenges, businesses are taking the initiative to expand their resources. Employment increased for the second consecutive month, reaching the strongest increase in nearly 18 months. Most businesses are hiring additional full-time workers to handle the increased workload and compensate for delays in production lines.

The storm’s impact also caused input costs to rise sharply as supplies were constrained. Raw material prices increased at the second-fastest pace since July 2024. In that context, many businesses were forced to adjust their selling prices to offset costs, although the rate of output price increase slowed compared to October.

Purchasing activity continued to expand, rising for the fifth consecutive month and reaching a four-month high. Inventories of raw materials rose slightly, reflecting expected improvement in production demand in the coming period. In contrast, inventories of finished goods fell as some businesses used inventory to meet orders amid slow arrivals of new supplies.

The outlook for manufacturing in the coming year remains positive, with nearly half of the firms surveyed expecting output to rise, with optimism at a 17-month high. Expectations of improved demand, particularly export orders, and more stable weather conditions were key drivers of sentiment.

Andrew Harker, chief economist at S&P Global Market Intelligence, said that the strong growth seen in October “was largely sustained” in November. “ Despite the disruption from the storm, Vietnam’s manufacturing sector has shown a clear foundation for recovery and has the potential to continue growing in the coming months as companies catch up with delayed projects ,” said Andrew Harker.

Source: https://congthuong.vn/pmi-duy-tri-da-tang-5-thang-lien-tiep-san-xuat-tiep-tuc-khoi-sac-432800.html