The SABB/HSBC Emerging Markets Index (EMI), which is a monthly indicator based on the PMI surveys, increased to a 17-month high of 52.5 in August, compared with 51.7 in July, according to Arab News.
This rise signals stronger growth of output across global emerging markets, led mainly by a sharper increase in Chinese service sector activity. The EMI remained below its long-run average of 53.8 (since late-2005), however.
The index showed that the expansion rate of Saudi Arabia’s nonoil producing private sector gained momentum during August, with output, new orders and employment all increasing at stronger rates compared to July. Inventory accumulation also strengthened as companies retained optimism regarding future activity requirements.
The UAE’s nonoil producing private sector companies posted a marked strengthening of business conditions in August, as new orders and output rose at accelerated rates.
Furthermore, new business expanded at the second-quickest pace in the series history to date. Meanwhile, the rate of growth in new export business rose to a record high.
This rise signals stronger growth of output across global emerging markets, led mainly by a sharper increase in Chinese service sector activity. The EMI remained below its long-run average of 53.8 (since late-2005), however.
The index showed that the expansion rate of Saudi Arabia’s nonoil producing private sector gained momentum during August, with output, new orders and employment all increasing at stronger rates compared to July. Inventory accumulation also strengthened as companies retained optimism regarding future activity requirements.
The UAE’s nonoil producing private sector companies posted a marked strengthening of business conditions in August, as new orders and output rose at accelerated rates.
Furthermore, new business expanded at the second-quickest pace in the series history to date. Meanwhile, the rate of growth in new export business rose to a record high.
Source:
Mubasher
