Business activity across emerging markets expanded in January at their slowest pace in four months due to sluggish services sectors in Brazil, Russia, India and China.
HSBC's composite emerging markets index of manufacturing and services purchasing managers' survey slipped for the second straight month to 51.4 in January. The index stayed above the 50 threshold separating expansion and contraction but was below the 2013 average of 51.7.
The survey showed signs of manufacturing and export revival in some countries, but Chinese factory output dipped below the 50 mark. Brazilian manufacturing growth slowed and output declined in Russia and Indonesia. Weak currencies, meanwhile, were increasing costs for some manufacturers.
Source: CCTV
