India tops Mint’s EM tracker for the fourth straight month

India kept its first spot for the fourth month in a row in June, while Brazil retained its second place. India's PMI was the highest among peers and stock markets performed well

First Published28 Jul 2023, 07:44 PM IST

In June, India's manufacturing sector demonstrated significant growth, positioning itself as the second-fastest expansion of the year, albeit at a slightly slower pace compared to May. (Photo: Mint) — In June, India’s manufacturing sector demonstrated significant growth, positioning itself as the second-fastest expansion of the year, albeit at a slightly slower pace compared to May. (Photo: Mint)

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

Top countries

India topped the league table for the fourth straight month with the highest PMI reading, inflation in control, and high GDP growth among peers.

Brazil was a close second as its stock market performance outshone peers. CPI inflation remained under control; import cover is the highest.

The Philippines jumped one spot to third in June, with a positive growth in exports. It also had the highest GDP growth in the March quarter.

(Grfx: Mint)

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First Published:28 Jul 2023, 07:44 PM IST

Home EconomyIndia tops Mint’s EM tracker for the fourth straight month