HSBCs composite emerging markets index of manufacturing and services purchasing managers surveys slipped for the third month running to 51.1 in February. It stayed under the 2013 average of 51.7 and well below a long-run level of 54.0. There was little hope for a quick turnaround, Ulgen said, noting tighter global financial conditions, worries about the Chinese economy, and geo-political tensions surrounding Ukraine. The Ukraine and Russia standoff could undermine Europes fledgling recovery, and in turn the global trade cycle, he said, warning the crisis posed the biggest risk to recovery in central European countries such as Poland and Czech Republic.
Posted on: Thu, 06 Mar 2014 06:31:33 +0000