The HSBC Emerging Markets Index, a monthly economic indicator, indicated subdued growth in developing economies, according to the latest report released Wednesday.
The index, derived from the purchasing managers' indexes (PMI) survey, was at 52.6 from 52.4 in February.
Data showed a picking up of pace in manufacturing output led by China, South Korea and Taiwan. On the other hand, growth in the services sector slowed to a seven-month low, according to the report.
"A gradual but modest recovery is under way in emerging markets," said Pablo Goldberg, global head of emerging markets research at HSBC.
China's economy showed an acceleration of growth and output, but the other major economies--like Brazil, India and Russia--were worse off than in February. But the stability of China's activity helped boost manufacturing in other Asian export-oriented economies such as South Korea, Taiwan, Indonesia and Vietnam.
Overall, employment in emerging economies continued to rise, though at a rate weaker than the survey average.
Also, inflation pressures seemed to be easing, with input price and cost of goods both showing more subdued rates of increase.
Write to Prabha Natarajan at prabha.natarajan@dowjones.com
The index, derived from the purchasing managers' indexes (PMI) survey, was at 52.6 from 52.4 in February.
Data showed a picking up of pace in manufacturing output led by China, South Korea and Taiwan. On the other hand, growth in the services sector slowed to a seven-month low, according to the report.
"A gradual but modest recovery is under way in emerging markets," said Pablo Goldberg, global head of emerging markets research at HSBC.
China's economy showed an acceleration of growth and output, but the other major economies--like Brazil, India and Russia--were worse off than in February. But the stability of China's activity helped boost manufacturing in other Asian export-oriented economies such as South Korea, Taiwan, Indonesia and Vietnam.
Overall, employment in emerging economies continued to rise, though at a rate weaker than the survey average.
Also, inflation pressures seemed to be easing, with input price and cost of goods both showing more subdued rates of increase.
Write to Prabha Natarajan at prabha.natarajan@dowjones.com
