Dubai: India figures among four of the fastest emerging markets that posted the highest output since last year, says a report. According to the SABB/HSBC Emerging Markets Index (EMI), China posted the sharpest increase in output for 15 months, while India saw the steepest expansion since February 2013. Russian private sector output stabilised, having fallen at the strongest rate in five years in May.
Brazil, however, registered a further flat trend in activity. SABB/HSBC EMI is a monthly indicator derived from the PMI surveys, indicated stronger output growth across global emerging markets in June. The EMI posted 52.3, up from 50.6 in May, signaling the sharpest rate of expansion since March 2013. That said, it remained below its long-run average of 53.8. The pick-up in output growth was reflected in both manufacturing and services, most notably the latter where activity growth hit a 15-month high.
Stronger output growth reflected the fastest increase in new orders since March 2013. Meanwhile, the level of outstanding business was unchanged, following a five-month decline. Inflationary pressures remained subdued in June, despite input price inflation reaching a four-month high. Prices charged for finished goods and services continued to rise only fractionally.
South African private sector companies reported further declines in both output and new orders, with the rates of contraction accelerating slightly since the previous month. Companies reported that mining strikes remained one of the main factors weighing on private sector demand.
