Economy
India pales among emerging market peers again in September
Summary
- India climbed two places in September but failed to make it among the top three emerging market countries.
India’s economic performance improved slightly in September but the country fell behind three emerging market peers as export and currency growth and stock market performance continued to disappoint.
After consistently holding the top position for over a-year-and-a-half, India slipped to sixth rank in August but regained some ground to secure fourth rank in September, with strong gross domestic product (GDP) and manufacturing Purchasing Managers’ Index (PMI) supporting its score.
Thailand secured the first place in September, climbing four places from August, mainly due to its stock market performance and export and currency growth beating other emerging market countries. Thailand had made it to the second position in July but slipped two places the following month.
Indonesia claimed the second position in September, boosted by export growth and stable inflation, while the Philippines slipped one position to third rank. China, which had secured the third rank in August, slipped to the fifth position in September.
Launched in September 2019, Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets based on seven high-frequency indicators: real GDP growth, manufacturing PMI, export growth, retail inflation, import cover, exchange rate movement, and stock market.
The rankings are provisional as the scores will get updated once all the latest data are available.
Methodology note: The tracker is a monthly summary of economic activity across nine large emerging markets based on seven high-frequency indicators. Latest available data is used. On each indicator, the best-performing economy gets a score of 100, the worst one gets zero, and the others get linearly-interpolated relative scores. A country's composite index score is the simple average of its seven indicator scores.
Earlier, the tracker had a 10th country, Russia, but it has been dropped temporarily as some data has not been reliably available since the Ukraine war began.
