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Home / Economy / India slipped to third spot among EM peers in May

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. With a composite score of 65, the Philippines topped the EM league table in May. Russia emerged second, followed by India at the third spot.

Top 3 countries:

The Philippines topped the EM table buoyed by robust manufacturing activity and strong GDP growth. The Philippine peso, though down against the dollar, performed fairly better than other peers amid global turmoil.

Russia stood second despite the war with Ukraine and sanctions impacting economic activity. This was mainly on account of a sharp month-on-month rise in market capitalisation due to low base effect.

India fell from the first rank the previous month as its stock market performance turned out to be one of the worst in May. Weak rupee and elevated inflation also proved to be drags.

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