The S&P Global Vietnam Manufacturing PMI rose to 54.3 in February 2026, up from a four-month low of 52.5 in January. This was the highest reading since October 2025, reflecting a sharper increase in production, which reached its strongest pace in more than 18 months. New orders also grew at their fastest rate since last October, supported by stronger customer demand and advance production ahead of scheduled deliveries.
The jump in output and new orders underpinned a marked increase in both employment and purchasing activity. Staffing levels rose for the fifth consecutive month and at the quickest pace since September 2022.
On the price front, input costs climbed at the fastest rate since June 2022, driven by higher supplier charges and increased shipping costs. In contrast, output prices were unchanged, remaining at the 45-month high recorded in January.
Business confidence strengthened for the fifth month in a row, reaching its highest level in 40 months, supported by robust market demand and expectations of continued growth in new orders.
