The sharp rise was mainly driven by a surge in manufacturing for export, coupled with more active mining and electricity production in recent months, the office said in a report released on October 6.

Notably, manufacturing, which accounts for the largest share of the industrial sector, saw a 10.4% increase over the first nine months of the year, the highest growth rate since 2020. Meanwhile, overall IIP for the January–September period grew by 9.1% from a year ago.

A number of key manufacturing industries posting strong year-on-year growth over the nine-month period are automobile production (up 26%), rubber and plastic products (up 17.3%); non-metallic mineral products (up 15.6%); garment manufacturing (up 13.5%); fabricated metal products (up 12.7%); leather and related products (up 12.5%); and metals (up 11.3%).

In total, all 34 provinces and centrally run cities recorded increases in their IIP compared to the same period last year, indicating broad-based recovery across regions.

The consumption index for processing and manufacturing rose 9.1% year on year in the first nine months, reflecting stronger demand. At the same time, inventory levels also climbed. As of September 30, inventories in processing and manufacturing increased by 13.3%, with the average inventory rate for the 9-month period at 82.3%, up from 76.8% a year ago.

These figures suggest that while output and consumption are growing, supply management is key to avoiding overstock and ensuring sustainable industrial growth.

Vietnam’s PMI steady at 50.4 amid marginal rise in new orders

VOV.VN - Vietnam’s Manufacturing PMI was unchanged at 50.4 in September, reflecting a marginal strengthening of business conditions as new orders rose and exports stabilised, according to the latest report released by S&P Global.