The S&P Global Vietnam Manufacturing PMI rose to 52.9 in July 2026 from 51.8 in June, signaling the strongest expansion since February. Both output and new orders grew at a faster pace, driven by stronger domestic and external demand, with export sales increasing at their quickest rate since July 2024.
To meet higher production needs, manufacturers stepped up purchasing activity at the sharpest rate in almost four-and-a-half years, while employment rose for the first time in five months. At the same time, stocks of inputs and finished goods declined as firms drew down existing inventories to support production and fulfill orders.
Supply-chain conditions continued to improve, with supplier delivery delays the least severe since May 2025. Both input cost and output price inflation eased to their weakest levels since September 2025. Business confidence strengthened to a five-month high, underpinned by expectations of stronger order inflows and increased production capacity.
