AsemconnectVietnam - The tradingeconomics.com cited the figures of S&P Global as saying that Vietnam Manufacturing PMI surged to 52.8 in May of 2026, up from 50.5 in April of 2025.

This is also the highest PMI since February of 2026, primarily driven by a rebound in new orders, with the fastest growth rate in three months as customers stockpiled inventories amid concerns about the ongoing conflict in the Middle East.
May of 2026 also marks the 11th consecutive month of positive business conditions.
The demand recovery led to the fastest growth rate in output since February of 2026. The increase was only slight due to high transportation costs and logistical issues continuing to limit demand from international markets.
The recovery in new orders contributed to boosting manufacturing activity in May. Accordingly, Vietnam's manufacturing output continued to increase for the 13th consecutive month, recording the fastest growth rate since February.
The input cost inflation increased to its highest level since April of 2011, mostly due to rising fuel, oil, and transportation costs.
However, output price inflation remained at its highest level in 15 years, although the rate of increase slowed slightly compared to April.
Business confidence remained relatively weak, as businesses remained cautious about the potential long-term consequences of the conflict in the Middle East.
In addition, manufacturers' purchasing activity also increased for the first time in three months, reflecting efforts to stockpile raw materials in anticipation of supply chain disruptions.
However, cost pressures remain a major challenge for manufacturing businesses. Input costs continued to rise in May, marking the fourth consecutive month of increases and reaching the fastest pace since April 2011. Businesses surveyed cited fuel, oil, and transportation costs as the main factors driving the sharp increase in input prices.
Selling prices also continued to rise, remaining among the highest increases in the past 15 years, although the rate of increase slowed slightly compared to April.
High fuel and transportation costs, coupled with logistical difficulties, continued to prolong supplier delivery times in May. However, the decline in delivery efficiency was less severe than in the previous period.
The extended delivery times continued to lead to a decrease in purchased inventory, despite businesses increasing their raw material procurement activities. Notably, the rate of decrease in production inventory was the strongest in nearly a year. Meanwhile, finished goods inventories also continued to decline, but at a slower pace than in April.
Although new orders recovered, weak demand in the preceding period helped businesses maintain sufficient capacity to handle new orders as well as backlogs. Therefore, the amount of unfinished work decreased for the second consecutive month. Spare production capacity was also one of the reasons for the third consecutive month of declining manufacturing employment, although the rate of decline was only slight.
CK
Source: VITIC/congthuong.vn/tradingeconomics.com