"India's Mfg, Services Growth Outpaced China In Feb"


NEW DELHI: Emerging markets' output growth rose to a 5-month high in February, and manufacturing as well as services sector in India expanded at a faster pace than China during the month, an HSBC survey said.

The HSBC Emerging Markets Index, a monthly indicator derived from Purchasing Managers' Index surveys, rose to 51.9, from 51.2 in January, signalling fastest rate of expansion since last September, but still lagging the developed economies.

"February saw some welcome signs of renewed life across the emerging markets," Markit Chief Economist Chris Williamson said, adding that "emerging markets collectively continued to significantly underperform against the developed world".

Three of the four largest emerging economies registered higher output in February. India arecorded the strongest rate of expansion, followed by China where growth picked up to a five-month high. In Brazil, private sector business activity rose for the first time in five months.
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Source: PTI