trueeconomics.blogspot.com /September 12, 2016
In the previous post I promised to update Composite PMI indicators for BRIC economies, so here it comes.
The good news is that Russia and India are posting Composite readings that are statistically significantly above 50.0 for the second month in a row. For Russia, this is the third consecutive month of Composite PMI readings statistically above 50.0 and for India – second.
The bad news is that Brazil acts as big drag on BRIC growth with severely depressed Composite PMI reading for 18th month running. Worse, Brazil’s position has deteriorated in August compared to July.
Meanwhile, China posted virtually unchanged Composite PMI in August compared with July, with both readings being very close to signalling statistically significant expansion. Last time China posted statistically significant reading above 50 line was in August 2014.
Couple of charts to illustrate the trends: