Emerging markets start to kick

Emerging markets have shown the strongest growth in seven months.

The HSBC Emerging Markets Index (EMI), a monthly indicator derived from the PMI surveys, signalled the fastest rise in output in seven months in October. At 51.7, the EMI remained well below its long-run trend level of 54.0. But the latest figure represented an improvement on the trend shown over Q3 (50.3), the lowest of any quarter since Q1 2009 during the global financial crisis.

Both manufacturing production and services activity registered stronger rates of expansion in October, reaching six- and seven-month highs respectively.

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