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India's output expansion steepest among BRICS nations since Feb 2013

India's output expansion steepest among BRICS nations since Feb 2013

According to a SABB/HSBC Emerging Markets Index report, China posted the sharpest increase in output for 15 months while India saw the steepest expansion since February 2013.

The pick-up in output growth during June was reflected in both manufacturing and service, especially in the latter where activity growth hit a 15-month high. (Photo: Reuters) The pick-up in output growth during June was reflected in both manufacturing and service, especially in the latter where activity growth hit a 15-month high. (Photo: Reuters)

India figures among four of the fastest emerging markets that registered highest output since last year.

According to a SABB/HSBC Emerging Markets Index (EMI) report, China posted the sharpest increase in output for 15 months while India saw the steepest expansion since February 2013.

SABB/HSBC EMI, which is a monthly indicator derived from the PMI surveys, indicated stronger output growth across global emerging markets in June.

The EMI posted 52.3, up from 50.6 in May, signaling the sharpest rate of expansion since March 2013. That said it remained below its long-run average of 53.8.

Among other BRICS nations, while the Russian private sector output stabilized after having fallen at the strongest rate in five years in May, Brazil registered a further flat trend in activity.

South African private sector companies reported further declines in both output and new orders, with the rates of contraction accelerating slightly since the previous month. Companies reported that mining strikes remained one of the main factors weighing on private sector demand.

The pick-up in output growth during June was reflected in both manufacturing and service, especially in the latter where activity growth hit a 15-month high.

Stronger output growth reflected the fastest increase in new orders since March 2013.

Meanwhile, the level of outstanding business was unchanged, following a five-month decline. Inflationary pressures remained subdued in June, despite input price inflation reaching a four-month high.

Prices charged for finished goods and services continued to rise only fractionally.