HSBC: Emerging market growth sluggish in three quarter

The Liao Zongkui HSBC Emerging Market Index (EMI) in the third quarter of 2010, down from 57.5 in the first quarter and 56.0 in the second quarter, fell to 54.3, though still above the peak of the global recession, according to the report of the three quarterly emerging markets.　　A minimum record of 43.4 was recorded in the last quarter of 2008, but the latest index has been the lowest since the second quarter of 2009. The latest figures point to several areas where growth is weakening. From the geographical region, China, Brazil, Russia, economic growth has been weakened, while India has remained stable for the time being. According to industry, the strong export drivers seen at the beginning of the manufacturing sector are rapidly weakening, and the service sector's confidence in the outlook has plummeted to its lowest point since the peak of the financial crisis.　　Overall, the data released in the third quarter showed that the pace of economic recovery in emerging markets has slowed, much more than in the US or the eurozone. On the surface, the result seems unexpected. But in fact, inventories recovered in the early stages of the recovery were ultimately not digested by demand.　　Emerging economies, which are particularly reliant on manufacturing, may have lost momentum to growth. (Stock market Weekly feeds)