Vietnam PMI July 2026 – manufacturing purchasing managers index

Admin
Aug 03, 2026

Vietnam PMI July 2026: Growth momentum improves in July amid waning inflationary pressures

  • Faster rises in output, new orders and exports.
  • Employment increases, while firms ramp up
    purchasing.
  • Inflationary pressures ease further

Download the report here

Cimigo Vietnam market research has collected the Vietnam PMI – manufacturing purchasing managers index since 2013. S&P Global compiles the Vietnam PMI S&P Global from responses to monthly questionnaires sent to purchasing managers in a panel of around 400 manufacturers.

Vietnam PMI findings

Vietnam PMI July 2026

July data pointed to a strengthening of growth momentum in the Vietnamese manufacturing sector. Sharper increases in output, new orders, exports and purchasing were recorded, while employment rose for the first time in five months. Firms were helped by a further easing of inflationary pressures, with input costs and output prices each rising at the slowest rates in 10 months. Supply-chain delays were also less pronounced.

The S&P Global Vietnam Manufacturing Purchasing Managers’ Index™ (PMI®) rose to 52.9 in July, up from 51.8 in June and signalling a solid monthly improvement in the health of the sector. Business conditions have now strengthened in 13 consecutive months, with the latest improvement the most pronounced since February.

Manufacturing production increased sharply in July, with the rate of expansion quickening to a five-month high. Output has now risen continuously on a monthly basis since May 2025. Firms often linked higher output to an increase in new orders. New business expanded for the third month running in July, and at a faster pace than in June. Total new sales were supported by a solid increase in new export orders, which rose at the sharpest rate since July 2024.

Anecdotal evidence indicated that the improving growth picture in the sector was in part reflective of an easing of inflationary pressures. Although respondents continued to report rising prices for shipping, and there were some mentions of further increases in fuel and oil costs, a recent dip in the oil price meant that other firms were able to make savings. As a result, both input costs and output prices increased at the slowest pace since September 2025.

Supply-chain disruption also softened further in July, with suppliers’ delivery times lengthening to the least marked extent since May 2025. Where lead times did increase, panellists linked this to shortages of goods and transportation.

Vietnam PMI Junly Trend

Meanwhile, manufacturers ramped up their purchasing activity in July, with the rate of expansion the steepest in almost four-and-a-half years. According to respondents, the rise in input buying mainly reflected higher output requirements, although some firms purchased items for use in the future.

With inputs being utilised to support sharply rising production, stocks of inputs continued to fall markedly. Stocks of finished goods were also down as products were shipped to customers to help satisfy order requirements. Manufacturers also responded to greater workloads by taking on extra staff, the first time this had been the case in five months. That said, the pace of job creation was insufficient to prevent a build-up of backlogs of work amid solid new order growth.

Hopes that new orders will continue to rise and plans for expanded production capacity were among the factors supporting confidence in the 12-month outlook for output in July. Sentiment rose to a five-month high, but was still some way below the level seen just before the outbreak of war in the Midde East as some panellists highlighted the potential for geopolitical issues to limit growth.

Download the report here

The S&P Global Vietnam Manufacturing PMI® is compiled by S&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.

Survey responses are collected by Cimigo 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 ‘higher’ responses and half the percentage of ‘unchanged’ responses.

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.

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