Emerging markets output growth falls for 4th straight month: survey
Published on Apr 4, 2014 10:20 AM
LONDON (Reuters) - Business activity across emerging markets fell for the fourth straight month in March, with output contracting in three of the four biggest economies, a survey showed on Friday.
HSBC's composite emerging markets index of manufacturing and services purchasing managers' surveys slipped to 50.3 from 51.1 in February, teetering on the 50 threshold that marks the difference between expansion and contraction.
The index is under the 2013 average of 51.7 and the long-run level of 54.0, as output contracted in three of the four biggest emerging economies, China, India and Russia.
Based on data from purchasing managers at about 8,000 firms in 17 countries, the survey showed China posting a decline for the second month in a row, India slipping back into contraction and Russian output slumping at the sharpest rate since May 2009.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!