Emerging markets output growth slows to 4-month low in January: HSBC

HSBC's composite emerging markets index of manufacturing and services purchasing managers' surveys slipped for the second month running to 51.4 in January. Based on data from purchasing managers at about 8,000 firms in 17 countries, the survey showed signs of manufacturing and export revival in some countries but Chinese factory output fell below the 50 mark, Brazilian manufacturing growth slowed and output fell in Russia and Indonesia. Growth was stronger in India, Poland, Taiwan and Mexico. India and Brazil both posted declines, while growth rates in China and Russia were weak, HSBC said.

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