India slips to bottom of Emerging market rungs for the second time in six months

[Ryzen_renoir]

India slipped to the bottom of the heap among key emerging markets in November despite reporting better-than-expected GDP figures for the September quarter, the latest update to Mint’s emerging markets tracker shows.

The ranking, the worst since June, indicates that India is finding it harder to regain lost ground compared to emerging market peers. Exports, for instance, had risen in September, but have contracted two months in a row now. Most emerging markets have reported declines in exports during the pandemic months, but India’s numbers—8.7% year-on-year contraction in November—have been worse.

China has been the big outlier among emerging markets, with exports growing 21% in November, the sixth straight month of growth and the best since February 2018.

India’s economic activity still appears weak compared to peers, shows the November edition of Mint’s Emerging Markets Tracker

India slipped to the bottom of the heap among key emerging markets in November despite reporting better-than-expected GDP figures for the September quarter, the latest update to Mint’s emerging markets tracker shows.

The ranking, the worst since June, indicates that India is finding it harder to regain lost ground compared to emerging market peers. Exports, for instance, had risen in September, but have contracted two months in a row now. Most emerging markets have reported declines in exports during the pandemic months, but India’s numbers—8.7% year-on-year contraction in November—have been worse.

 

India’s manufacturing purchasing managers’ index (PMI) continued to show an expansion in November but the pace was slower, as it touched a three-month low of 56.3.

Despite the decline, India’s PMI was still higher than all other emerging economies barring Brazil (64). A reading of over 50 denotes an expansion.

India’s GDP contracted 7.5% in July-September, a significant improvement since the 23.9% contraction in the first quarter. This was also slightly better than market expectations, and encouraged the Reserve Bank of India (RBI) to revise the full-year slowdown projection from (-) 9.5% to (-) 7.5%.

However, the extent of India’s economic slowdown is still worse compared to most other emerging markets in the tracker. Mint’s Emerging Markets Tracker, launched in September last year, takes into account seven high-frequency indicators across 10 large emerging markets to help us make sense of India’s relative position in the emerging markets league table. The seven indicators considered in the tracker encompass both real activity indicators, such as the manufacturing purchasing managers’ index (PMI) and real GDP growth, and financial metrics, such as exchange rate movements and changes in stock market capitalization. The final rankings are based on a composite score that gives equal weightage to each indicator.

 

[Jambhalheart]

Aathcare ! 
 

To hell with these fake rankings

[Ryzen_renoir]

12 minutes ago, Jambhalheart said:

Aathcare ! 
 

To hell with these fake rankings

[Kool_SRG]

#ActOfGod