IIP remained high but PMI ended its 46-month sequence of expansion. October’s overall IIP and manufacturing IIP grew 9.2% YoY and 10.8% YoY, respectively, which was faster than the 7.7% and 10.1% respective growth rates recorded in October 2018. However, October’s PMI of 50 ends a 46-month sequence of expansion, suggesting that Vietnam’s manufacturing sector may not be immune from a global slowdown and may see some negative impacts on demand and business sentiment.