Economy
India rules at top again among EM peers on strong GDP, stock market performance
Summary
- India’s top ranking in the monthly Mint tracker has been led by strong GDP growth, stock market performance, and a recovery in exports.
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 83, India topped the EM league table in February. The Philippines and Brazil were second and third, respectively.
Top countries
India topped the chart yet again on the back of strong GDP growth, PMI reading and a recovery in export growth. Stock market performance was also one of the strongest among EM peers.
The Philippines climbed one spot to secure the second rank with decent GDP growth and a relatively better stock market performance.
Meanwhile, Brazil dropped one place to the third rank despite a strong PMI reading as a decline in the stock market capitalisation proved to be a drag.
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.
