India retains top spot among EMs for 5th straight month; Brazil second

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 75, India topped the EM league table in July. Brazil and the Philippines were second and third, respectively.

Top countries

India retained its top spot for the fifth month in a row as its stock markets and PMI reading outshone peers. June-quarter GDP data is yet to be released.

Brazil kept its second rank with highest import cover. CPI inflation remained under control, and stock markets performed well.

The Philippines jumped up two places to the third spot with positive growth in exports. Forex performance was good and inflation stayed moderate.