Indian economy expands more than China in Feb: HSBC EMI

During February,the HSBC composite index for India,which maps both manufacturing and services sectors,stood at 54.8,whereas for China it was 51.4.

An index measure of above 50 indicates expansion. Among the largest economies covered,growth rates slowed in China,India and Brazil in February,but India expanded more than China.

BRIC economies Brazil,Russia,India and China registered slower increases in new business since January. Moreover,employment also rose at the weakest rate in three months,HSBC said. The EMI report suggests that there has been a softening in new orders across the BRIC economies and particularly for new export orders in manufacturing industry.