Economy
India extends winning streak, is top emerging market for 10th straight month
Summary
- India’s top ranking in the monthly Mint tracker has been led by robust GDP growth, a string of strong PMI numbers, moderating inflation, and recovering exports growth relative to its emerging market peers.
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. With a composite score of 80.5, India topped the EM league table in December. Brazil and China were second and third, respectively.
Top countries
India topped the chart for the 10th straight month with the best PMI reading and top-notch stock market performance.
Brazil retained its second spot on the back of strong exports growth. It's import cover was the highest among other EM peers.
China climbed one spot to reach No. 3 as its inflation was the lowest amongst peers, and the yuan's gain against the dollar outshone other currencies.
Methodology note: The tracker is a monthly summary of economic activity across nine 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 capitalization. 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.
