The emerging markets activity increased to the highest level in almost a year and a half in August, results of a survey by Markit Economics and HSBC Bank showed Thursday.
The HSBC emerging markets index, derived from the PMI surveys, rose to 52.5 in August from 51.7 in July. This marked a seventeen-month high.
The increase in activity was driven by the sharp growth in China's service sector activity. Service sector growth in the emerging markets was strong and almost equal to June's fifteen-month high. Manufacturing output continued to increase at the fastest rate in eight months. Read more here.