HSBC announces five new PMIs, to create first emerging markets index
03 Sep 2009
HSBC announces that it is partnering with global financial information services company Markit to provide a unique resource that will improve the economic understanding of the world's emerging markets.
The partnership would combine Markit-sourced PMI data with the insights created by HSBC's network of economists in emerging markets.
HSBC has manwhile announced five new emerging market Purchasing Managers' Indices (PMIs ), the largest number of new PMIs ever announced at one time. These are: the first ever PMI announced for South Korea and Taiwan, and new service sector PMIs introduced for Brazil, China and India.
Including seven existing emerging market PMIs, HSBC now provides PMI data for 64 per cent of the emerging market economies of Asia, South America and Europe.
HSBC will use these PMIs for creating a composite index and world's first emerging market index in October - the HSBC EMI.
PMIs are leading indicators of economic conditions.
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