logo
Plus   Neg
Share
Email

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
Many retailers including Target, Walmart and CVS announced temporary store closures in various regions across the United States following violence and looting amid the unrest related to the death of George Floyd. The street protests, some peaceful and some violent, erupted across the nation after Floyd was mercilessly killed by Minnesota police. Nestle USA, a division of Swiss food major Nestlé, announced the recall of certain Lean Cuisine Fettuccini Alfredo products citing misbranding and the presence of an undeclared allergen. According to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS, the recall involves approximately 29,002 pounds of chicken products. Apple chief executive officer Tim Cook condemned the killing of an unarmed black man, George Floyd, and called for the creation of a "better, more just world for everyone," according to reports citing a memo to employees.
Follow RTT