{"id":17785,"date":"2026-10-01T08:10:59","date_gmt":"2026-10-01T01:10:59","guid":{"rendered":"https:\/\/staging.cimigo.com\/?p=17785"},"modified":"2026-10-01T10:30:28","modified_gmt":"2026-10-01T03:30:28","slug":"vietnam-pmi","status":"publish","type":"post","link":"https:\/\/www.cimigo.com\/en\/trends\/vietnam-pmi\/","title":{"rendered":"Vietnam PMI September 2026: Growth slows as exports fall"},"content":{"rendered":"\r\n\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\"><span style=\"color: #000000;\">Vietnam PMI September 2026: New orders rise solidly, but growth slows amid fall in exports<\/span><\/h2>\r\n<ul>\r\n<li><span style=\"color: #000000;\">Slower increases in output and new orders. <\/span><\/li>\r\n<li><span style=\"color: #000000;\">Sharpest fall in new export business in five months. <\/span><\/li>\r\n<li><span style=\"color: #000000;\">Higher costs for oil and fuel drive up input prices, but selling price inflation eases.<\/span><\/li>\r\n<\/ul>\r\n<div class=\"cimigo-btn-wrap\"><a class=\"cimigo-btn\" href=\"https:\/\/www.cimigo.com\/en\/research-reports\/vietnam-purchasing-managers-index\/\" target=\"_blank\" rel=\"noopener noreferrer\"> Download the report <\/a><\/div>\r\n<p><a href=\"https:\/\/www.cimigo.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Cimigo Vietnam market research<\/a> <span style=\"color: #000000;\">has collected the Vietnam PMI &#8211; manufacturing purchasing managers index since 2013. S&amp;P Global compiles the Vietnam PMI<\/span> <a href=\"https:\/\/www.spglobal.com\/en\" target=\"_blank\" rel=\"noreferrer noopener\">S&amp;P Global<\/a>\u00a0<span style=\"color: #000000;\">from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers.<\/span><\/p>\r\n<h2><span style=\"color: #000000;\">Vietnam PMI findings<\/span><\/h2>\r\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-30515 size-full\" title=\"cimigo-feature-image\" src=\"https:\/\/www.cimigo.com\/wp-content\/uploads\/2026\/09\/Vietnam-PMI-September-2026.png\" alt=\"Vietnam PMI September 2026\" width=\"338\" height=\"496\" srcset=\"https:\/\/www.cimigo.com\/wp-content\/uploads\/2026\/09\/Vietnam-PMI-September-2026.png 338w, https:\/\/www.cimigo.com\/wp-content\/uploads\/2026\/09\/Vietnam-PMI-September-2026-204x300.png 204w\" sizes=\"auto, (max-width: 338px) 100vw, 338px\" \/><\/p>\r\n<p><span style=\"color: #000000;\">The Vietnamese manufacturing sector remained in growth territory in September, although rates of expansion in output and new orders eased from those seen in August. Softer growth of new orders meant that firms were able to keep on top of workloads despite a second successive monthly reduction in employment. Meanwhile, input costs continued to rise markedly, but the rate of output price inflation eased again, in part due to competitive pressures.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">The S&amp;P Global Vietnam Manufacturing Purchasing Managers&#8217; Index\u2122 (PMI\u00ae) dropped to 51.9 in September from August&#8217;s reading of 53.3, thereby signalling a smaller improvement in the health of the sector at the end of the third quarter. Nonetheless, business conditions have now strengthened in each of the past 15 months. A further marked rise in manufacturing production was registered in September, continuing the sequence of expansion which began in May 2025. The rate of growth eased from that seen in August, however.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">Panellists reported that higher new orders were behind the latest increase in output, but here too the pace of expansion slowed. In fact, the rise in new business was the weakest in<br \/>the current five-month period of growth. Where new orders increased, panellists reported improving market conditions and customers expanding their order volumes.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">There were again reports of weakness in international demand, however, resulting in a second successive fall in new export orders. New business from abroad decreased solidly, <\/span><span style=\"color: #000000;\">and at the fastest pace since April.\u00a0 <\/span><span style=\"color: #000000;\">Backlogs of work were broadly unchanged in September, <\/span><span style=\"color: #000000;\">after having risen in each of the previous two months. While <\/span><span style=\"color: #000000;\">a combination of rising new orders and falling employment <\/span><span style=\"color: #000000;\">imparted pressure on capacity at some firms, others reported <\/span><span style=\"color: #000000;\">that slower growth of new business meant that they were able <\/span><span style=\"color: #000000;\">to keep on top of workloads.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">The latest reduction in employment was the second in as <\/span><span style=\"color: #000000;\">many months, as panellists reported a combination of staff <\/span><span style=\"color: #000000;\">resignations and restructuring efforts. The fall in staffing <\/span><span style=\"color: #000000;\">levels in September was only slight, however.<\/span><\/p>\r\n<p><span style=\"color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-30516 size-full\" title=\"cimigo-feature-image\" src=\"https:\/\/www.cimigo.com\/wp-content\/uploads\/2026\/09\/Vietnam-PMI-September-Trend.png\" alt=\"Vietnam PMI September Trend\" width=\"342\" height=\"322\" srcset=\"https:\/\/www.cimigo.com\/wp-content\/uploads\/2026\/09\/Vietnam-PMI-September-Trend.png 342w, https:\/\/www.cimigo.com\/wp-content\/uploads\/2026\/09\/Vietnam-PMI-September-Trend-300x282.png 300w\" sizes=\"auto, (max-width: 342px) 100vw, 342px\" \/><\/span><\/p>\r\n<p><span style=\"color: #000000;\">A further marked increase in purchasing activity was recorded <\/span><span style=\"color: #000000;\">in September as firms secured inputs to help support output <\/span><span style=\"color: #000000;\">growth. The use of materials in the production process meant <\/span><span style=\"color: #000000;\">that stocks of inputs continued to fall.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">Manufacturers also expressed a desire to draw down holdings <\/span><span style=\"color: #000000;\">of finished products, and used the prompt shipment of goods <\/span><span style=\"color: #000000;\">to customers to achieve this. In fact, stocks of finished goods <\/span><span style=\"color: #000000;\">decreased at the sharpest pace since the survey began in <\/span><span style=\"color: #000000;\">March 2011.\u00a0<\/span><span style=\"color: #000000;\">Suppliers&#8217; delivery times lengthened modestly, meanwhile, <\/span><span style=\"color: #000000;\">with panellists linking delays to issues with international <\/span><span style=\"color: #000000;\">shipping and poor weather conditions.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">International issues were also central to a further rise in input <\/span><span style=\"color: #000000;\">costs as the war in the Middle East caused higher prices <\/span><span style=\"color: #000000;\">for fuel and oil. Increased transportation costs were also <\/span><span style=\"color: #000000;\">reported. The rate of input price inflation was marked and <\/span><span style=\"color: #000000;\">slightly faster than in August, albeit still among the lowest <\/span><span style=\"color: #000000;\">over the past year.\u00a0<\/span><span style=\"color: #000000;\">Meanwhile, the pace of output price inflation slowed for the <\/span><span style=\"color: #000000;\">fifth consecutive month and was the weakest since June <\/span><span style=\"color: #000000;\">2025, as strong competition limited the ability of firms to pass <\/span><span style=\"color: #000000;\">higher input costs through to customers.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">Expected improvements in market conditions supported <\/span><span style=\"color: #000000;\">confidence that output will rise over the coming year. <\/span><span style=\"color: #000000;\">The planned launch of new products was also behind the <\/span><span style=\"color: #000000;\">optimistic outlook, with sentiment reaching its highest since <\/span><span style=\"color: #000000;\">February.<\/span><\/p>\r\n<div class=\"cimigo-btn-wrap\"><a class=\"cimigo-btn\" href=\"https:\/\/www.cimigo.com\/en\/research-reports\/vietnam-purchasing-managers-index\/\" target=\"_blank\" rel=\"noopener noreferrer\"> Download the report <\/a><\/div>\r\n\r\n\r\n\r\n<p><span style=\"color: #000000;\">The S&amp;P Global Vietnam Manufacturing PMI\u00ae is compiled by S&amp;P Global from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">Survey responses are collected by<\/span>\u00a0<a href=\"https:\/\/www.cimigo.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Cimigo\u00a0<\/a><span style=\"color: #000000;\">Vietnam in the second half of each month and indicate the direction of change compared to the previous month. A diffusion index is calculated for each survey variable. The index is the sum of the percentage of \u2018higher\u2019 responses and half the percentage of \u2018unchanged\u2019 responses.<\/span><\/p>\r\n<p><span style=\"color: #000000;\">The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The indices are then seasonally adjusted.<\/span><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Vietnam PMI September 2026: New orders rise solidly, but growth slows amid fall in exports Slower increases in output and new orders. Sharpest fall in new export business in five months. Higher costs for oil and fuel drive up input prices, but selling price inflation eases. Download the report Cimigo Vietnam market research has collected [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[476],"tags":[1432,478,1506],"class_list":["post-17785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-research-vietnam","tag-vietnam-economy-market-research","tag-vietnam-manufacturing-market-research","tag-vietnam-purchasing-managers-index"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vietnam PMI | Cimigo<\/title>\n<meta name=\"description\" content=\"Vietnam September PMI. Slower increases in output and new orders. 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