The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, continued its upward trajectory in November on the back of faster manufacturing growth.
The EMI rose to 52.1, from 51.7 in October, signalling the fastest expansion in business activity across global emerging markets since March.
Moderate rise in activity across manufacturing and services sector were signalled in China, Russia and Brazil, while Indian private sector output fell for the fifth month running, HSBC said.
The HSBC composite manufacturing and services PMI for China increased in November to 52.3 from 51.8 in October, while, the HSBC composite manufacturing and services PMI for Brazil and Russia, though witnessed a decline over the previous month, yet remained above the 50 mark that distinguishes growth over contraction.
The PMI for Brazil declined to 51.8 in November from 52 in the previous month and for Russia it fell to 52.2 from 53.3.
For India, the index increased in November to 48.5 over the previous month (47.5) but remained below the 50
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