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India falls the most among emerging countries

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Staff writer ▼ | October 10, 2013
The HSBC Emerging Markets Index (EMI), a monthly indicator derived from the PMI surveys, remained only just above the neutral threshold of 50.0 in September, signalling muted output growth in global emerging markets.
India street market
India street marketThe HSBC Emerging Markets Index (EMI), a monthly indicator derived from the PMI surveys, remained only just above the neutral threshold of 50.0 in September, signalling muted output growth in global emerging markets.


The EMI was little-changed at 50.8, from 50.7 in August, and the average for Q3 (50.3) was the lowest since Q1 2009 during the global financial crisis. Growth rates for manufacturing output and services activity were marginal in September, although the goods-producing sector showed the best performance since May.

China registered only a modest rise in output in September, with manufacturing again weighing on overall growth. Meanwhile, India posted a third successive drop in activity and the fastest decline since March 2009, reflecting weakness in the service sector economy. Brazil and Russia both posted modest increases in business activity.

New business growth across emerging markets remained weak in September, and the level of outstanding business continued to fall. The level of employment across manufacturing and services stabilised, following a two-month period of job shedding.

Input prices increased at the fastest rate in seven months in September. That said, the pace of inflation remained weak in the context of the eight-year series average, mainly reflecting relatively weak price pressures in China.


 

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