Plus   Neg

Emerging Market Growth At 3-Month High

Global emerging markets grew at the fastest pace in three months in December, a survey by Markit Economics and HSBC bank showed Wednesday.

The HSBC Emerging Markets Index, or EMI, increased to 51.7 in December from 51.2 in November, signalling moderate growth. This marked the highest score in three months.

A reading above 50 indicates growth in output.

Manufacturers and service providers in emerging markets registered subdued growth, though the service sector grew at the fastest pace in three months.

Among the largest emerging economies, China reported below-par output growth. India continued its tentative recovery, while Russia logged further decline in activity. Brazil registered a downturn for the eighth time in nine months, though at a slower rate.

New orders and employment in the emerging markets grew in December, though at historically slow rates. Inflationary pressures remained subdued.

The outlook for global emerging markets increased from the record low in November, but remained weak. The Emerging Markets Future Output Index was at the second-lowest level in survey history in December.

"Of the four 'BRIC' economies, India saw the strongest rate of expansion in December (and over the fourth quarter as a whole), despite the rate of expansion slipping from November's five-month peak, " Chris Williamson, chief economist at Markit said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Bed Bath & Beyond, Inc. is planning to close around 200 mostly Bed Bath & Beyond stores over the next two years amid continuing struggles with Covid-19. The home improvement retailer, which reported a wider-than-expected loss in its first quarter with sharply lower sales, said the move is part of its plans to right-size its real estate portfolio and to cut costs. United Airlines has warned that 36,000 employees or about 45% of its U.S. workforce could be furloughed in October, due to continuing losses caused by the coronavirus pandemic and collapse in air travel, according to reports citing the company's memo sent to employees. Walmart is planning to launch a new subscription program, Walmart+, in late July, according to a report by Recode. The new membership program, which is likely to be direct competitor to Amazon Prime, will cost $98 per year. Walmart+ is expected to include fuel discounts at Walmart gas stations, unlimited same-day delivery of groceries and general merchandise from Walmart Supercenters...
Follow RTT