Indias Feb manufacturing, services growth outpaced China: HSBC The manufacturing and services sectors in India expanded at a faster rate than China in February even as emerging market economies grew at the slowest pace since September 2013, an HSBC survey said today. During February, the HSBC composite index for India, which maps both manufacturing and services, stood at 50.3, whereas for China it was 49.8, Brazil 50.8 and Russia 50.2. An index measure of above 50 indicates expansion. The HSBC Emerging Markets Index (EMI), a monthly indicator derived from PMI surveys, sank to 51.1 in February from 51.4 in January, signalling the weakest growth in global emerging market output since September. Outlook for March subdued HSBC said conditions are likely to remain subdued in March, with incoming new business rising at the slowest rate in five months. In February, employment was broadly unchanged over the month and backlogs of work declined further. The HSBC Emerging Markets Future Output Index, which tracks firms’ expectations for activity in 12 months’ time, picked up in February to an 11-month high, reflecting improved sentiment in both manufacturing and services. Among the largest emerging markets, China posted the strongest sentiment in 11 months for manufacturing and services combined. Brazil posted the strongest overall output expectations, as it has eight times in the past nine months. Russia held the least positive expectations in February, followed by India,
Posted on: Fri, 07 Mar 2014 04:05:43 +0000
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