Emerging markets’ output growth rose to a 5-month high in February, and manufacturing as well as services sector in India expanded at a faster pace than China during the month, an HSBC survey said on Thursday.
The HSBC Emerging Markets Index (EMI), a monthly indicator derived from Purchasing Managers’ Index surveys, rose to 51.9 from 51.2 in January, signalling fastest rate of expansion since last September, but still lagging the developed economies.
During February, the HSBC composite index for India, which maps both manufacturing and services, stood at 53.5, whereas for China it was 51.8, Brazil (51.3) and Russia (44.7). An index measure of above 50 indicates expansion.
The HSBC Emerging Markets Index (EMI), a monthly indicator derived from Purchasing Managers’ Index surveys, rose to 51.9 from 51.2 in January, signalling fastest rate of expansion since last September, but still lagging the developed economies.
During February, the HSBC composite index for India, which maps both manufacturing and services, stood at 53.5, whereas for China it was 51.8, Brazil (51.3) and Russia (44.7). An index measure of above 50 indicates expansion.
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