AsemconnectVietnam - The PMI in November reached 53.8 points, down slightly from October but still above the 50 threshold, showing that business conditions improved and manufacturing maintained its recovery momentum for 5 consecutive months.

On the morning of December 1, 2025, S&P Global announced the Purchasing Managers' Index (PMI) of the Vietnamese manufacturing industry in November 2025. There were 3 highlights: Output increased sharply as the number of new orders increased; heavy storms caused delays in the supply chain and the completion of production work; the number of employees increased for the second consecutive month.
Accordingly, the PMI in November reached 53.8 points, lower than the 54.5 points of October but still firmly above the 50 point threshold. This result shows that business conditions continued to improve and the manufacturing sector maintained its recovery momentum for the fifth consecutive month.
According to S&P Global, output and new orders continued to increase in November, although the rate of increase slowed compared to the previous month.
Meanwhile, the number of new export orders increased at a faster pace, reaching the fastest rate in 15 months, with a marked improvement in demand from the Chinese mainland and Indian markets. This is a signal that external demand is gradually recovering, contributing to the traction of production growth at the end of the year.
Stormy weather in November was recorded as the main factor hindering production. Many businesses said that large storms disrupted supply chains, extending delivery times to the highest level since May of 2022. Delays in raw material deliveries made it difficult for factories to complete orders on time and led to a further increase in backlogs of work, at the fastest pace since March of 2022.
Despite the challenges, businesses continued to expand their resources. Employment increased for the second consecutive month, reaching the strongest increase in nearly 18 months. Most businesses hired additional full-time workers to handle the increased workload and compensate for delays in production lines.
The impact of the storm also caused input costs to rise sharply as supplies were limited. Raw material prices increased at the second fastest pace since July 2024. In this context, many businesses were forced to adjust their selling prices to cover costs, although the rate of output price increase slowed compared to October.
Purchasing activity continued to expand, increasing for the fifth consecutive month and reaching a four-month high. Inventories of raw materials rose slightly, reflecting an expected improvement in production demand in the coming period. In contrast, inventories of finished goods fell as some businesses had to use inventory to meet orders when new supplies were slow to arrive.
The outlook for manufacturing next year remains positive. Nearly half of the surveyed businesses expect output to increase, with optimism reaching a 17-month high. Expectations of improved demand, especially export orders, and more stable weather sentiment were important drivers of market sentiment.
Andrew Harker, Chief Economist at S&P Global Market Intelligence, said that the strong growth in October “has largely been maintained” 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.
CK
Source: VITIC/ haiquanonline.com.vn