India trips China for top position in emerging markets ranking in December
Subscribe to enjoy similar stories. The Indian economy reclaimed its top position in Mint's Emerging Markets tracker in December for the first time in five months. India’s performance was bolstered by some recovery in the country's stock market performance in December, with market capitalization rising 9% from the previous month.
The stock market turmoil since August had kept India from achieving the leading position until November. India left China behind in December by achieving better scores in stock market performance, Purchasing Managers’ Index, and currency performance. China fell one place to the second rank in the EM league table.
China’s export growth remained one of the strongest among its EM peers and inflation remained in control. Additionally, it is one of the few countries to have already released its GDP data for the December quarter, showing a solid 5.4% growth. The Philippines climbed up two places to secure the third position with a strong December quarter GDP growth of 6.3%.
Its currency also showed a better performance compared to peers. 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: real GDP growth, manufacturing PMI, export growth, retail inflation, import cover, exchange rate movement, and stock market. The rankings are provisional as the scores will get updated once all latest data is available.
Methodology note: The tracker is a monthly summary of economic activity across nine large emerging markets based on seven high-frequency indicators. Latest available data is used. On each indicator, the best-performing economy gets a score of 100, the worst one gets zero, and the
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