New Delhi: India expanded more than China in February 2013, according to a survey by HSBC. The HSBC Emerging Markets Index (EMI) stood at 52.3 in February 2013.
The HSBC composite index for India for manufacturing and services stood at 54.8 in February 2013, whereas for China it was 51.4. The index above the 50 mark indicates expansion, below it indicates contraction.
“Emerging Market economies continued to expand in February but the pace of growth lost steam,” as per Mr Murat Ulgen, Chief Economist for Central and Eastern Europe and Sub-Saharan Africa, HSBC.
There has been a softening in new orders across the BRIC economies and particularly for new export orders in manufacturing industry, highlighted the EMI report in February 2013.
The business expectation for the next 12 months continues to be robust. The HSBC Emerging Markets Future Output Index registered growth for the second month in February 2013, added the report.
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