The expansion rate of India is higher than china in February as India is emerging one of the rising economies in the overall contribution of economic growth. The emerging market index of HSBC claims that the monthly indicator shows from the survey that the figure fell from 53.8 to 52.3 during the time span between January and February. This has been the lowest figure after 7 months.
During the month of February, Both manufacturing and service sector for India the HSBC composite index of India took a stance at 54.8 and for china it was 51.4.
The overall measurement index of the expansion which takes the largest economies in the world claimed that the growth rates has slowed down in the BRIC countries but in comparison with china, India has got the upper hand in terms of the expansion. The officials of HSBC says that the rising market economies are constantly moving ahead in the month of February but the rate of the growth appears to be low. This slow growth has raised the eyebrows over the performance of manufacturing and service sector.
BRIC countries’ economies –Brazil, Russia, India and China—registered to have slow rate of growth in business since the New year in addition to that the employment growth has not been sufficient enough, HSBC said.
The recent report of EMI says that there has been a change in law and order in all the BRIC countries. Especially for the new export orders in the manufacturing sector have not been supportive enough for the expansion plan.
The officials of HSBC said that there has been a huge impact of emerging markets on the global trade cycle knowing the fact that the developed countries are making a huge dent on the business economy. As the new export orders from the manufacturing sector of the emerging market haven fallen for the third quarter in a row.
Asia is constantly facing a tough challenge because of the under deliverance of the manufacturing and service sector.
Meanwhile the experts have predicted that the expansion in business will be a tough ask for the next 12 months. The fall in the index provides enough evidence that the economic growth is still a major issue for the developing countries like India and china and inflation seems to be the other problem.