More signs that the global economy is slowing as HSBC reports that their emerging markets index slowed to 51.3 from 52.5 (via HSBC):
- HSBC Emerging Markets Index: 51.3 (prior 52.5)
- Chinese growth slows to six-month low
- Future output expectations across emerging markets weaken to seven-month low
The HSBC Emerging Markets Index (EMI), a monthly indicator derived from the PMI™ surveys, fell to 51.3 in April, from March’s 52.5. That signalled a slowdown in economic growth in global emerging markets, to the weakest for over a year-and-a-half.
Data broken down by broad sector showed similarly weak growth rates for manufacturing output and services activity.
Three of the four BRIC nations registered slower output growth in April, most notably in China. The exception was Brazil, although its rate of expansion remained modest overall. Elsewhere, manufacturing output growth slowed in the majority of economies covered.