Although emerging markets continued to grow in December, the rate of expansion was slower than the previous month, according to the HSBC Emerging Markets Index.
"Emerging economies are no longer expanding at the rapid rates recorded before the onset of the global financial crisis. Nor have they been able to replicate the pace seen in late 2009 and early 2010 during the early post-crisis bounce," Stephen King, HSBC's group chief economist, said. "Still, despite the relative weakness, there is no indication of any imminent descent into recession: consistently over 50, the index remains well above the traumatic levels recorded in 2008 and the first half of 2009."
The EMI is derived from HSBC Purchasing Managers' Index reports in 17 emerging economies. A reading above 50 signals growth, while below 50 signals contraction. The index fell to 51.6 from 52.1 in November.
The HSBC Emerging Markets Future Output Index, which measures firms' expectations of activity in 12 months, showed that Brazilian firms expressed more optimism than their Chinese and Indian counterparts. Russian firms were the least optimistic among the four largest emerging economies.
- ANELIK BANK - ARMENIA: IDBank has a new board chairman
- ABN AMRO SERVICES COMPANY: ABN AMRO to make more sustainability information available to investors
- CENTRAL BANK OF AZERBIJAN: The Central Bank trained primary school teachers as a pilot project
- BELARUS MINISTRY OF FOREIGN AFFAIRS: Belarusian Foreign Ministry hosts a round table on the occasion of the 100th anniversary of the modern Belarusian diplomatic service
- ARMECONOMBANK - ARMENIA: Armeconombank and singapore-Based EFA Financial Institutions Debt Fund PTE. LTD. Investment Company Signed a Loan Agreement
- ASIAN DEVELOPMENT BANK: ADB Sends Condolences to Indonesia in Wake of Tsunami Disaster
- ARDSHININVESTMENTBANK - ARMENIA: Ardshinbank announces New Year deposit
- AG BANK: Happy birthday, Mr. President!
- BASIS BANK - GEORGIA: Hurry up! The action started on mortgage loans in GEL!
- BALTIC INTERNATIONAL BANK - UKRAINE: Opening hours for the Christmas holidays