Vietnam PMI manufacturier

The S&P Global Vietnam Manufacturing PMI fell to 53.8 in November 2025, from a fifteen-month high of 54.5 in the previous month. Still, the latest reading signaled the fifth consecutive month of expansion and the second-strongest pace in the sequence, as output rose for the seventh straight month amid growth in new orders. However, the pace of expansion in both output and new business moderated, as adverse weather conditions constrained production activity. This severe weather also disrupted supply chains and hindered manufacturers’ ability to complete orders on schedule. On the pricing front, input costs surged to its highest level since July 2024, while output prices remained elevated as manufacturers passed higher input costs onto customers. Finally, overall business sentiment reached a seventeen-month high, underpinned by expectations of renewed growth in new orders and optimism for more favorable weather conditions in the coming months.