Emerging markets output growth rises slightly in April - HSBC survey

LONDON Thu May 8, 2014 3:10pm IST

A worker repairs a vessel at a ship repair yard in Mumbai May 2, 2014. REUTERS/Danish Siddiqui

A worker repairs a vessel at a ship repair yard in Mumbai May 2, 2014.

Credit: Reuters/Danish Siddiqui

Related Topics

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)

FILED UNDER:

Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage