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Emerging Markets Output Growth Fastest In Seven Months: Markit

Business activity in Emerging Markets economies increased in October at the fastest pace in seven months, data from a survey by Markit Economics and HSBC Bank showed Thursday.

The seasonally adjusted business activity index for the Emerging Markets economy advanced to 51.7 in October from 50.7 in September, marking the fastest growth in activity in seven months. An index reading above 50 indicates growth, while one below suggests decline.

New business across Emerging Markets economies increased at the strongest pace since March this year. In line with the rise in workloads, firms raised their workforces for the first time in four months.

Consequently, production also grew at the fastest pace in seven months in October, with both manufacturing and services activity rising at stronger rates.

Among the major emerging market countries, China recorded a stronger increase in output during the month. Russia and Brazil also posted sharper increases in activity, while India's output declined for the fourth successive month. South Africa's private sector staged a recovery in October, following a contraction in September.

Overall input price inflation eased in October, but was the second-fastest in eight months. Meanwhile, output prices rose for the third month running, but at a slower rate than in September.

Looking ahead, sentiment among surveyed businesses in Emerging Markets improved to the highest level in eight months, data showed.

by RTT Staff Writer