Emerging markets output growth rises slightly in April - HSBC survey
LONDON (Reuters) - Business activity across emerging markets expanded slightly in April following four months of declining growth, but output fell in all the BRIC emerging economies, a survey showed on Thursday.
HSBC's composite emerging markets index of manufacturing and services purchasing managers' surveys edged up to 50.4 from 50.3 in March, but remained well below its long-run trend level of 53.9.
The data showed declining output in the four largest economies, Brazil, Russia, India and China - below the 50 threshold that marks the difference between expansion and contraction.
Based on data from purchasing managers at about 8,000 firms in 17 countries, the survey showed manufacturing output across emerging markets was broadly stagnant in April, while services activity growth was unchanged from March's weak rate.
"Big economies from Russia, Turkey, Poland to South Africa all lost momentum," said Murat Ulgen, HSBC chief economist for central and eastern Europe and sub-Saharan Africa, in a statement.
The future output index, which tracks firms' expectations for activity in 12 months' time, fell to a new low in April, mainly reflecting a sharp weakening in output expectations in Brazil and Mexico and the weakest sentiment in China in 2014 so far.
The HSBC index is calculated using data produced by Markit.
(Reporting by Carolyn Cohn; Editing by Toby Chopra)
- Tweet this
- Share this
- Digg this
- Two Ukrainian fighter jets shot down over rebel-held territory
- UPDATE 2-Concordia finally heads for scrapyard after massive salvage operation
- UPDATE 2-U.S. SEC adopts long-awaited reforms for money market funds
- UPDATE 5-TransAsia Airways plane crashes in typhoon-hit Taiwan, killing 47
- Hamas tactics exact high toll in Israeli ground thrust
India will not support a trade facilitation protocol ahead of a July 31 deadline unless its concerns about subsidies are met, two senior government officials said on Wednesday, sticking to a hard line critics say could derail a landmark global trade deal. Full Article
Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs Full Article
Jet Airways chairman says looking to restructure debts, talking to bankers Full Article
Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec Full Article