LON­DON:

EMI hits seven-month low

The Pak Banker - - 6BUSINESS -

Growth in the emerg­ing mar­kets slowed in Fe­bru­ary to its low­est level for seven months, ac­cord­ing to the HSBC Emerg­ing Mar­kets In­dex (EMI). The head­line fig­ure fell to 52.3 in Fe­bru­ary, from 53.8 in Jan­uary. HSBC’s EMI is a monthly in­di­ca­tor that is de­rived from the HSBC Pur­chas­ing Man­agers’ In­dices that fol­low 16 key emerg­ing economies. Man­u­fac­tur­ing rose at the slow­est rate since Novem­ber, while growth in the ser­vices sec­tor dropped to a six-month low. Com­bined out­put slowed in China, In­dia and Brazil, the largest of the emerg­ing economies. How­ever, in In­dia there was ac­cel­er­ated growth in the man­u­fac­tur­ing sec­tor and pur­chas­ing ac­tiv­ity grew at the fastest rate for 10 months.

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